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Monica Patricia
The story of Monica's business started when she was working in a shoe store, where she worked for many years. She worked long exhausting days, and didn't have time to dedicate to her children, who require greater attention. She decided to resign from her job and start her own business venture, using the experience she gained in her job. And so it went, with the support of a supplier, she started selling shoes, purses and clothing on credit, and every three months made payments to her provider. The provider was the first support she had in her decision to start her own business. Gradually her customer base grew and the options she had for where to purchase her goods also increased, so that her list of suppliers expanded to include others in different
cities of the country, like Barranquilla y Bucaramanga.

Her goal is to have available working cash, so she can buy products when there is an opportunity in the market in these cities. Her biggest challenge is meeting the growing demand of the market, and having enough money on hand to respond to the demands of her clients, allowing her to take advantage of the potential profit. This is the reason she has requested a Kiva loan, which will be the first loan she has taken out through the 'Fundación Mario Santo Domingo'. She will use the money to purchase shoes and purses made of leather, which have already been pre-ordered by her customers, which means that this loan has great potential for success.
View original language description ↓
La historia empresarial de Mónica inició, cuando trabajando en un almacén de calzado por muchos años, en jornadas agobiantes y sin tiempo para dedicarse a sus hijos, quienes requerían una mayor atención, decidió renunciar de su empleo y emprender su propia aventura de negocios, aprovechando su experiencia pasada en el mercado. Fue así como apoyada por un proveedor empezó a vender calzado, bolsos y ropa a crédito y así mismo en plazos de 3 meses, pagaba a su proveedor, quien fue su primer apoyo en esta decisión. Gradualmente su clientela fue creciendo y sus opciones de compra se incrementaron, logrando ensanchar su lista de proveedores como hoy, que cuenta con estos en otras ciudades del país como Barranquilla y Bucaramanga. Su meta es disponer de un capital de trabajo suficiente, para ella misma hacer compras de productos de oportunidad, que brinda el mercado en estas ciudades, cuando hay dinero disponible. Su mayor desafío es lograr que ante la creciente demanda de su mercado, tenga un capital de trabajo suficiente para responderle oportunamente a su clientela. Esta es la razón por la cual acude a un credikiva, primer financiamiento que hace a la Fundación Mario Santo Domingo, mediante la cual comprara directamente calzado y bolsos elaborados en cuero y que están justificados en pedidos de sus clientes rentables, lo cual hace que esta financiación tenga un gran potencial de éxito.

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
  • 569
    View loans »
    Colombia Loans Fundraising
  • $14,881,725
    Funds lent in using Kiva
  • 1,829.0
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,150 helped Monica Patricia to buy shoes and purses made of leather.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 18, 2012
Listed
May 29, 2012
Currency Exchange Loss:
Possible
Expired:
Jun 28, 2012