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Juan Carlos
Juan, 41, lives in the city of Barranquilla’s Santo Domingo neighborhood with his wife and two children who are 8 and 14 years old. As a father and head of household he earns his income selling food and fried snacks in general, a business he started selling "arepas" [stuffed griddle-cake made of soaked corn ground into a paste or dough], turnovers and fried cheese fingers that micro businesses in the neighborhood made and he focused on establishing a market share among his friends and among stores. Today, he prepares all these products himself and sells them in a food and beverage stand that many customers patronize because it’s located on a very busy corner.

His Kiva loan is his first financing with Fundación Mario Santo Domingo. He will use it to buy raw materials like oil, sugar, salt, eggs, etc. in larger amounts. He plans to qualify for discounts for paying cash and for buying in larger than normal amounts this way. His goal for later on is to have a place of his own where he can prepare meals for his customers and this is precisely the motivation behind his working diligently in his business where he currently has a profit margin over sales of 18% and an inventory turn around rate of 8 days, financial indicators from which we can predict growth and a successful investment of the Kiva loan.
View original language description ↓
Juan de 41 años de edad vive en el barrio Santo Domingo de la ciudad de Barranquilla, con su esposa y sus dos hijos en las edades de 8 y 14 años., él como padre de familia genera sus ingresos a partir de su negocio de venta de comidas y fritangueria en general, negocio que inició cuando vendía arepas, empanadas, deditos que elaboraban microempresas del barrio y él se dedicó a construir un mercado entre vecinos amigos y tiendas. Hoy todos estos productos los prepara y los vende en un puesto de comidas y refrescos donde llegan muchos clientes, pues está ubicado en una esquina muy pública. Su credikiva es su primer financiamiento que hace a la Fundación Mario Santo Domingo, con él comprará materias primas e insumos tales como aceites, azúcar, sal, huevos etc. en mayor volumen, compra con la cual planea obtener descuentos por ser de contado y en mayor cantidad que la acostumbrada. Su meta más adelante es tener un local propio donde pueda preparar comidas para sus clientes y esta es justamente la motivación que lo impulsa a trabajar persistentemente en su negocio donde genera una rentabilidad sobre las ventas del 18% una rotación de inventarios de 8 días, indicadores financieros desde los cuales proyectamos su crecimiento y su exitosa inversión de el credikiva.

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
  • 552
    View loans »
    Colombia Loans Fundraising
  • $14,876,100
    Funds lent in using Kiva
  • 1,782.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $450 helped Juan Carlos to buy ingredients like oil, salt, eggs, etc. in larger amounts.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 22, 2011
Listed
Oct 3, 2011
Currency Exchange Loss:
Covered
Ended:
Feb 17, 2013