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Francia Elena
Some time ago, Francia started her business of renting out washing machines. The income she generates goes toward supporting her family with the expenses. She has five children who range in age from 2 to 13. Her husband became a pensioner after suffering an accident at work. She also lives with her mother and her niece. Francia started her business in 2010 using the money from her husband’s severance pay. Her monthly sales result in a good profit margin that allows her to support her household. The business expenses are low since she manages to keep costs at a minimum. Her main expenses are machine repairs. Since she is able to achieve a high profit margin, Francia hopes to increase her inventory by purchasing two more washing machines. The demand for her service is high in the area where she lives. She has a great opportunity since there is no existing competition for this type of service. There have been many times when she has not been able to keep up with the demand from her customers. Her goal is to expand her business and take advantage of the marketplace by opening a variety store and stationery shop.


This Kiva loan is her first form of financing from Fundación Mario Santo Domingo. She will buy two washing machines so that she can respond to the daily demand that she has yet to meet. This investment will guarantee her success.

View original language description ↓
Francia tiene un negocio de alquiler de lavadoras que inició hace un par de años, con el que genera ingresos para apoyar a su familia en los gastos, tiene 5 hijos en las edades de 2 a 13 años y vive también con su esposo, pensionado debido a un accidente laboral, su madre y su sobrina. Francia inició su negocio desde el año 2010 con dinero de la liquidación de su cónyuge, sus ventas mensuales le generan un buen margen de rentabilidad, lo cual le permite aportar a su hogar, porque los gastos de su negocio son bajos y maneja costos mínimos, que son las reparaciones de las maquinas. Aunque el margen de rentabilidad es alto, espera incrementarlo con la compra de 2 lavadoras más, ya que la demanda es alta en el sector donde se encuentra ubicada. Su mayor oportunidad en el mercado es que no existe competencia en el sector y muchas son las veces que no puede responder a la demanda de sus clientes. Su meta es incrementar su negocio y más adelante aprovechar el mercado que maneja para emprender un punto de venta de mercancías, variedades y papelería. Su credikiva es su primer financiamiento con la Fundación Mario Santo Domingo, con el comprará 2 máquinas para responder a la demanda que día a día se presenta y que no ha podido dar curso., esto es lo que justamente garantiza el éxito de su inversion

Additional Information

About Fundación Mario Santo Domingo

Fundación Mario Santo Domingo (FMSD) is a non-profit organization in northern Colombia dedicated to developing programs for the country’s poorest communities. In addition to numerous social services, FMSD runs a microfinance program to strengthen micro-businesses in the areas where it works. The organization also offers several non-financial components as part of this program, including training to help entrepreneurs start their own businesses.

About Colombia

  • $6,070
    Average annual income
  • 250
    View loans »
    Colombia Loans Fundraising
  • $13,361,775
    Funds lent in using Kiva
  • 1,793.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $450 helped Francia Elena to purchase two washing machines.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 20, 2011
Listed
Jun 27, 2011
Currency Exchange Loss:
Covered
Ended:
Aug 15, 2012