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Maria
Maria, who is 71 years old, lives in the municipality of Soledad. She is a widow who has 2 children, now aged 41 and 45. Aided by her daughter, she runs a business that was launched 22 years ago in a different municipality where Maria used to live. It is now located 15 minutes from her present residence. Maria gained her initial business experience selling varied merchandise. Over time, she has added other products and today she sells not only cosmetics, woven bags and clothing, but also pastries and tamales, with her daughter's assistance.

At present, Maria is applying for her 3rd loan through the Fundacion Mario Santo Domingo, this time the 1st Kiva loan she has received. Maria will buy pastry-making supplies, including meat, rice, cooking oil, and grain. She will also invest in perfumes in general, since she needs to buy in larger volume and continue adding to her working capital by increasing her merchandise inventory, in order to increase sales and improve family income. Her greatest challenge is competition and she must provide opportune responses with products her customers like.

While Maria works to reach her goals, the business functions with an account collection turnover of 28 days. With her Kiva loan, hopefully, she will be able to finance her credit accounts and solve investment needs while focusing on her actual and potential market.
View original language description ↓
Maria de 71 años vive en el municipio de Soledad, ella es una mujer viuda que tiene 2 hijos en las edades de 41 y 45 años. Tienen un negocio apoyada por su hija, el cual inició hace 22 años en otro municipio donde vivía, ubicado a 15 minutos de su actual residencia; allí desarrolló su primera experiencia empresarial, vendiendo mercancía variada, adicionalmente fue agregando otros productos y hoy vende no solo productos cosméticos, bolsos tejidos y ropa, sino también pasteles y hayacas en compañía de su hija. En la actualidad está aplicando a su tercer crédito con la Fundación Mario Santo Domingo, mediante su credikiva, que es el primero que recibe, comprará insumos para preparar pasteles, como carne, arroz, aceites, granos y tambien invertirá en perfumería en general, pues requiere invertir en mayor volumen para continuar ampliando aun su capital de trabajo, aumentar el inventario de mercancías, para incrementar sus ventas y mejorar el ingreso familiar; porque su mayor desafío es la competencia, a la que debe afrontar con respuestas oportunas y productos que requieran sus clientes. Mientras Maria trabaja para cumplir sus metas, su negocio funciona con una rotación de cuentas por cobrar de 28 días, por eso con su credikiva podrá financiará su cartera de crédito y aquí radica el éxito de su inversión además de que la hace enfocada en su mercado real y potencial.

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

  • $11,100
    Average annual income
  • 469
    View loans »
    Colombia Loans Fundraising
  • $15,266,950
    Funds lent in using Kiva
  • 1,775.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,425 helped Maria buy supplies such as meat, rice, cooking oil, and grain for making pastries, plus fragrances in general to sell.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 30, 2012
Listed
Apr 26, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013