Check out some available loans that are similar to this one!
Pedro
56-year-old Pedro lives with his wife and has six children who are between 11 and 30 years of age. Five years ago, Pedro was experiencing a very difficult financial situation. He worked as a builder but was not finding work. He discussed with his wife the idea of making thongs (flip-flops) to sell and thereby make money. She supported this idea and so Pedro borrowed money from a friend, bought raw materials and made a few pairs of sandals which made him a small amount of money. His customers liked his products and started to recommend him. His customer base started to grow and he looked closely at the feet of people as they passed by, adding ideas to his designs. With the support of his wife and especially thanks to his loans from Fundación Mario Santo Domingo, Pedro managed to increase his working capital, grow his business and stabilize it. He has received two loans from this organization who have helped him for three years. Pedro would like to grow his business even further and is requesting a Kiva loan to buy raw materials and supplies so that he can make his products. He will buy foam, soles, adhesive, lining, heels etc. His goal for the future is to have sales premises where he can display his products. He would also like to buy more specialized machinery, which would make his production more efficient, and continue improving his family's well-being.
View original language description ↓
Pedro de 56 años de edad vive con su cónyuge y tiene 6 hijos en las edades de 11 a 30 años. Desde hace 5 años, cuando estaba pasando una situación económica muy difícil, después de haber trabajado como albañil y no encontraba como ejercer este oficio, consultó a su esposa el hacer un primer ejercicio de producir chancletas para venderlas y generar ingresos, ella apoyó esta idea y por eso Pedro prestó dinero a un amigo, compró materias primas y elaboró unas pocas sandalias que le generaron ingresos básicos; a sus clientes le gustaron y empezaron a recomendarlo, por eso su clientela empezó a crecer, mientras él observando los pies de quien pasaba por su lado todo el que veía, agregaba el modelo observado a sus diseños. Con el apoyo de su cónyuge, y especialmente el financiamiento de la Fundación Mario Santo Domingo, logró aumentar su capital de trabajo, crecer y estabilizarse; con esta organización ha recibido 2 financiamientos, durante 3 años que le han ayudado. Hoy quiere crecer aun más y está solicitando un credikiva para comprar materias primas e insumos y fabricar modelos, comprando en mayor volumen espumas láminas de suelas, pegantes forros, tacones etc. Su meta mas adelante es tener un local comercial donde exhibir sus productos, comprar maquinarias más especializadas con los que hacer efectiva su producción y continuar mejorando el bienestar de su familia.

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
  • 188
    View loans »
    Colombia Loans Fundraising
  • $13,162,950
    Funds lent in using Kiva
  • 1,777.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Pedro to buy raw materials and supplies for making his products. He will buy foam, soles, adhesive, lining, heels, etc.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 13, 2012
Listed
Feb 20, 2012
Currency Exchange Loss:
Covered
Ended:
Mar 17, 2014