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Alvaro
Alvaro, 55, is a father of two children, ages 19 and 14, and lives in the neighborhood of Ceiba in the city of Barranquilla. He makes lunches, especially daily specials (rice, beef or chicken or fish, grains, salad and soup) which are affordable to his customers. There is a lot of variety in his menu, but he sells them very cheaply, like soups that he sells to nearby families and to workers that work in the area.

Alvaro began his business because he needed a way to generate income when he found himself unemployed and couldn't find a permanent job. He wants to keep growing his business, but with an increase in demand he doesn't have enough capital to keep up. For this reason he asks for a Kiva loan, his first with Fundacion Mario Santo Domingo, which he will use to buy a tarp to protect his customers from the Caribbean sun and the constant rain, and also to finish furnishing his stall, especially with plastic containers. His goal is to have a large restaurant and to be known, and for his stall to make more money and provide employment to others.
View original language description ↓
Álvaro de 55 años de edad es padre de 2 hijos en las edades de 19 y 14 años, vive en el barrio la Ceiba en la ciudad de Barranquilla, donde se dedica a elaborar almuerzos especialmente las llamadas comidas corrientes, (arroz, carne o pollo, o pescado, granos ensalada y sopa), lo cual está al acceso de la comunidad de clientela que le compran. En este negocio hay una gran variedad de menús corrientes, pero tiene un producto muy económico, como las sopas que vende por porciones a las familias cercanas y a trabajadores que ocasionalmente se desempeñan en este sector. Álvaro inició su negocio por la necesidad de generar ingresos pues se encontraba desempleado y no era muy fácil lograr vincularse al empleo formal. Él quiere continuar creciendo con su negocio, pero ante el incremento de su demanda, el capital de trabajo con el que cuenta es insuficiente para lograrlo. Esta es la razón por la cual acude a un credikiva, primer financiamiento que hace a la Fundación Mario Santo Domingo, con el cual comprará una carpa para proteger a su clientela del inclemente sol caribe, de la lluvia que es constante y también actualizará su menaje especialmente en lo que tiene que ver con recipientes plásticos. Su meta más adelante es adecuar un restaurante de gran tamaño y lograr mayor reconocimiento y por su puesto mayores ingreso y empleo para otros.

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
  • 359
    View loans »
    Colombia Loans Fundraising
  • $14,070,600
    Funds lent in using Kiva
  • 1,951.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped Alvaro to buy a tarp to protect customers from the Caribbean sun and constant rain, and to finish furnishing the kitchen with things like plastic containers.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 25, 2011
Listed
Nov 29, 2011
Currency Exchange Loss:
Covered
Ended:
Oct 18, 2012