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Maria Magdalena
Maria lives with her spouse and three children, ages 10 and 17, in the town of Soledad, twenty minutes from the city of Barranquilla. There she has two businesses; she sells assorted merchandise and also sells food. She came up with the idea of starting the business three years ago. She was looking for the opportunity to earn enough income to increasingly improve her welfare and that of her family, which had been her husband’s responsibility up until that time. Customers who buy meals from her are located in the neighborhood where she lives, and she sells assorted merchandise door-to-door directly to customers in Soledad’s town center. She makes her purchases in cash. However, she makes her sales on credit and consequently, her greatest challenge is to have the enough working capital in order to meet the demands of her new customers. This is exactly the reason she has come to Kiva to request her first loan through Fundación Mario Santo Domingo. She will buy assorted merchandise to fill customer orders, and the investment will be successful because goods will rotate quickly since they are bought with customers’ needs in mind.
View original language description ↓
Maria vive con su cónyuge y sus 3 hijos en las edades de 10 a 17 años, en el municipio de Soledad, a 20 minutos de la ciudad de Barranquilla. Allí tiene dos negocios, vende mercancía variada y también comidas; su idea de negocio ocurrió desde hace 3 años, buscando la oportunidad de obtener ingresos suficientes para lograr cada vez mas su bienestar y el de su familia, hasta ese momento a cargo de su esposo. Su clientela que le compra alimentos, está ubicada en el barrio donde habita y la que le compra mercancías variadas en el centro del municipio de Soledad y a ellos les vende directamente puerta a puerta. Mientras sus compras las hace de contado, las ventas las hace a crédito, por eso su mayor desafío es tener el capital de trabajo suficiente para responderle a una nueva clientela y esto es justamente la razón pro la cual acude a un credikiva, primer financiamiento que hace ala Fundación Mario Santo Domingo, con el cual comprará mercancías variadas encargadas por sus clientes, inversión que tendrá éxito porque rotará rápidamente pues está en marcada en resolver sus necesidades de consumo.

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
  • 268
    View loans »
    Colombia Loans Fundraising
  • $13,343,550
    Funds lent in using Kiva
  • 1,758.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $325 helped Maria Magdalena to purchase assorted merchandise to fill customer orders.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 13, 2012
Listed
Mar 30, 2012
Currency Exchange Loss:
Covered
Ended:
Feb 17, 2013