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Gloria Estefany
Gloria, age 20, is a dynamic and enterprising young woman who works in the retail sector. She sells handicrafts and other types of merchandise that are brought in from Sampués, a town in the Department of Sucre. Gloria distributes her goods to her customers who include neighbors, relatives, friends, employees, and independent workers in the neighborhoods of Los Almendros, El Campito, La Alboraya, and El Santuario in Barranquilla. She recently opened a shop in the town plaza of Galapa, which is 15 minutes away from Barranquilla. Gloria manages her business with her mother, who has plenty of experience, and her boyfriend. She sells her products on credit and in large volumes and then collects payment either weekly or every 15 days. In some places, she collects payment on a daily basis. At the moment, she must pay cash for the merchandise she acquires from her distributors, but there are some who will extend credit to her. Gloria’s trips to the town of Sampués occur twice per month and she utilizes public transportation. Her business shows good indication of its liquidity. Her accounts receivable period averages 18 days and the product turnover within her inventory moves very rapidly. In addition, her profitability levels indicate that her business is efficient and solvent enough to cover her future commitments. However, her greatest challenge is taking into account the distance she must travel to acquire her products. Gloria must also consider her travel costs since those factors are not stable.


This Kiva loan is her first form of financing with Fundación Mario Santo Domingo. She will buy chandeliers, manufactured lamps, cupboards, and rocking chairs so that she can satisfy her main customers who have requested these products.

View original language description ↓
Gloria es una joven de 20 años muy dinámica y emprendedora que se dedica a la actividad comercial, vendiendo artesanias y otras mercanicas que trae de Sn Pues un Municipio del departamento de Sucre, y distribuye entre sus clientes, entre los que se cuentan vecinos, famliares, amigos, empleados, trabajadores independientes de los barrios Los Almendros, El campito, La Alboraya El santuario en Barranquilla y recientemente abrio una plaza en el municipio de Galapa a 15 minutos de la ciudad mencionada. En el negocio trabaja con su madre a quien le debe mucho de su experincia y tambien su novio. Gloria vende sus productos a crédito en mayor volumen y con abonos semanales y quincenales, aunque en algunas plazas cobra diariamente. En la actualidad parte de sus compras la hace a proveedores de contado y alguna de ellas a créditos. El desplazamiento al municipio de Sanpues lo realiza en transporte público, viajando dos veces por mes. El negocio de Gloria presenta buenos indices de liquidez, rotaciòn de sus cuentas por cobrar cada 18 días y muy rápidamente sus inventarios. Asi mismo presenta niveles de rentabilidad que demuestran la eficiencia y solvencia del negocio para compromisos futuros y su mayor desafio es la distancia que tiene que recorrer para acceder a los productos que requiere y tambien los costos del mismo que no se mantienen estables. Su credikiva es el primer financiamiento que hace a la Fundaciòn Mario Santo Domingo, con el comprarà candelabros, lámparas manufacturadas, esquineras y mecedores, para complacer a sus principales clientes que le han solicitado estos productos.

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

  • $11,100
    Average annual income
  • 472
    View loans »
    Colombia Loans Fundraising
  • $15,262,800
    Funds lent in using Kiva
  • 1,787.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Gloria Estefany to purchase chandeliers, manufactured lamps, cupboards, and rocking chairs.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 23, 2011
Listed
Jun 30, 2011
Currency Exchange Loss:
Covered
Ended:
Jul 15, 2012