This Kiva loan is his first form of financing through Fundación Mario Santo Domingo. Elías will use the money to buy merchandise to restock his business such as chairs, rocking chairs, bedroom sets, and other items so that he can respond to his new customers. His challenge is not having enough operating capital on the several occasions when his customer base is growing so that he can fulfill orders in a timely manner. His goal is to become the main producer of “Momposino” furniture in the city of Barranquilla. This will put him in the position to become an exporter in the future whenever he is ready.
About Fundación Mario Santo DomingoFundación 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.
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Success!! The loan was 100% repaid