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Gumercinda Isabel
Gumercinda lives with her 22 year old daughter in the town of Soledad; she makes and sells mats and industrial cleaning rags that she makes out of fabric remnants that she buys from clothing manufacturers in downtown Barranquilla 20 minutes away from her town.

She has the entire process installed at home and she works it alone. She assembles them and sells them mainly to local retailers who are her main market. She’s done very well with her business but her working capital is insufficient to expand in her market, increase sales and respond to her great challenge which is competition; this is what Gumercinda wants to accomplish and the reason behind her Kiva loan request, her first financing from Fundación Mario Santo Domingo that she’ll use to buy fabric remnants in larger amounts. She will thus qualify for volume discounts which she will most assuredly pass on to operational costs and will increase supply and number of customers which is precisely where she justifies her investment’s success.
View original language description ↓
Gumercinda vive con su hija de 22 años, en el municipio de Soledad y se dedica a la elaboración la venta de tapetes y limpiones industriales, que fabrica con retazos de telas, adquiridas en las confecciones del centro de la ciudad de Barranquilla a 20 minutos de su municipio; en su casa tiene todo el proceso que realiza ella sola y los arma y vende al detalle principalmente en locales minoristas, que son su principal mercado. Con su negocio le ha ido muy bien, pero su capital de trabajo no es suficiente para expandirse en su mercado, incrementar sus ventas y responder al gran desafío de su competencia, que es su mayor desafío y es lo que Gumercinada quiere lograr. Esta es la razón por la cual acude a su credikiva, primer financiamiento que hace ala Fundación Mario Santo Domingo, con el cual comprará tela en retazos en mayor volumen, con ello ganará descuentos que trasladará muy seguramente al costo de la operación y aumentará la oferta y su número de clientes, allí es justamente donde se justifica el éxito de su inversión.

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
  • 521
    View loans »
    Colombia Loans Fundraising
  • $14,691,000
    Funds lent in using Kiva
  • 1,762.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Gumercinda Isabel to buy fabric remnants.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 23, 2012
Listed
Mar 16, 2012
Currency Exchange Loss:
Covered
Ended:
Sep 27, 2013