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Gina Paola
More than three years ago, Gina, 24, a young woman living in Barranquilla’s Barlovento neighborhood, decided to set up a small, home-based bakery with her husband where she offers bread, pudding, cookies, cakes and other French pastries.

Everything began for Gina when her husband became unemployed. He knew the business very well since his family had much experience in it. She suggested they start the business at home. They did not have any money for the machinery but a neighbor of hers who had owned a bakery and still had the equipment offered to rent it to them with an option to buy. She accepted and they still use it to date.

She buys what she needs for production daily and her portfolio rotates every two days, the time in which she collects payment for what she sells. She’s asking for her first Kiva loan because she wants to reinvest in supplies and raw materials like flour, margarine, yeast, spices and eggs for production. With this she will be able to have stock on hand to meet growing demand. In addition, she wants to buy a display case to sell directly to the public since she currently makes the product and immediately distributes it to neighborhood stores, her main clientele.

Her greatest challenge is being able to own her own baking equipment and not have to rent it from her neighbor any longer so that her profits will be greater and her profitability will be higher than her current 28%.

Gina lives with her husband and three minor children, the products of her union. In addition to the bakery, she earns additional monthly income selling merchandise to order for which she gives her customers up to 30-day payment plans.
View original language description ↓
Hace más de tres años Gina, una joven de 24 años, residente en el barrio Barlovento de Barranquilla, decide junto con su esposo montar una pequeña panadería en su casa, donde ofrece panes, pudines, deditos, pastelitos y demás productos de la pastelería francesa. Todo empezó para Gina cuando al ver que su esposo se encontraba sin empleo, que conocía del oficio y que su familia tenía mucha experiencia en ello, le planteó que iniciaran la actividad en su casa. No contaban con el dinero para la maquinaria pero una vecina suya, quien había tenido panadería y aún tenía los equipos, le ofreció arrendárselos con opción de compra, ella aceptó y hasta el día de hoy los utilizan. Compra a diario lo que necesita para la producción y su cartera rota cada dos días, tiempo en el que cobra lo vendido. Solicita su primer credikiva porque requiere invertir en insumos y materia prima como harina, margarina, levaduras, esencias, huevos para la producción, con ello podría tener un stock de inventario y atendería la creciente demanda, además desea adquirir una vitrina exhibidora para vender directamente al público, ya que actualmente elabora el producto e inmediatamente lo distribuye entre las tiendas del barrio, su principal clientela. El mayor reto para ella representa el poder tener sus propios equipos de panadería y no tener que arrendarlos más a su vecina, así obtendría una mayor ganancia y una rentabilidad a la actual que es del 28%. Gina vive con su esposo y tres hijos menores de edad, producto de su unión. Además de la panadería, obtiene ingresos mensuales por la venta de mercancía por encargo para lo cual le concede a sus clientes hasta 30 días de plazo para el pago.

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
  • 487
    View loans »
    Colombia Loans Fundraising
  • $15,259,900
    Funds lent in using Kiva
  • 1,783.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Gina Paola to buy ingredients and a display case.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 13, 2012
Listed
Jun 22, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 18, 2013