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Juan
54-year-old Juan has a small factory where he makes 'bollos de maiz'. He lives together with his wife and his three children who are 18 and 19 years old. He dreams of seeing his children become successful professionals and this is what he is working towards. Juan's business was born when, through family tradition, he started making 'bollos de maiz' (a corn mixture, wrapped in leaves and tied with twine), in order to support his family. He has achieved his goal as he has one son who is nearly a professional and the other two are also on this path, in a field they enjoy. Juan makes his sales from home, for cash and on credit. He also has a sales location outside a very well-known supermarket in the city, near his production site. Juan's goal is to further strengthen his business every day and for his children to become well-respected professionals. His greatest challenge is a lack of sufficient working capital when faced with growing demand. He would like to buy in larger volumes so that he can obtain discounts. This is precisely why he is applying for a Kiva loan (his first loan from Fundación Mario Santo Domingo). He will use it to buy raw materials and supplies, so that he can increase his production and improve his access to new customers through stores, grocery stores and other sales locations. He will also invest in making some structural improvements in his patio which is where his production area is located. This will allow him to carry out his work more efficiently.
View original language description ↓
Juan de 54 años tiene una pequeña fábrica de bollos de maíz; él vive con su cónyuge y sus tres hijos en las edades de 18 y 19 años, a quienes sueña con verlos convertidos en profesionales exitosos y él trabaja para ello. Su actividad inició cuando por tradición familiar, se dedicó a elaborar amasijos de maíz envueltos en hojas y amarrados con pita, para sostener su familia y bien que lo ha logrado, pues ya tiene un hijo que se perfila como profesional y los otros dos van por ese camino en lo que les gusta. Sus ventas las realiza desde su casa, de contado y a crédito; además de tener un punto comercial en la puerta de un supermercado muy conocido de la ciudad y cercano al sitio de producción Su máxima es que su negocio se fortalezca cada día mas y que sus hijos sean profesionales prestigiosos. Su mayor desafío es el insuficiente capital de trabajo, ante la demanda del mercado que cada día crece, él quiere comprar en mayor volumen para obtener descuentos. Esta es justamente la razón por la cual acude a su credikiva, primer financiamiento que hace a la Fundación Mario Santo Domingo, con el cual comprará materias primas e insumos, para incrementar la producción y potencializar el acceso a nuevos clientes entre tiendas, graneros y puntos comerciales, además invertirá en adecuaciones de su patio donde estará ubicado el área productiva, con mayor orden, lo que generará mayor eficiencia en la tarea..

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
  • 233
    View loans »
    Colombia Loans Fundraising
  • $12,881,350
    Funds lent in using Kiva
  • 1,777.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $400 helped Juan to buy raw materials and to invest in making structural improvements to his patio where his production area is located.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 3, 2012
Listed
Feb 14, 2012
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2013