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Gerardo
Gerardo is 54 years old, lives with his wife, and along with his brother, is a carpenter. They have a workshop where they make all types of wood furniture. The brothers inherited their business from their grandfather from whom they learned the skills necessary for the trade to which they are completely dedicated today. Principally, their customers are traditional and have been loyal for many years. Also, the brothers have formed a base of customer referrals thanks to the quality of their work.

Their goal is to strengthen their business and to direct their efforts to repositioning themselves. With the death of their father, their working capital has diminished. In order to respond to growth of their business and impact the market with new products as well as respond rapidly to requests of their customers, they were forced to take out high-cost loans.

It is for this reason that they are applying for their first loan from the Fundacion Mario Santo Domingo (Mario Santo Domingo Foundation) with which they will buy raw materials such as wood and a manual router in order to lessen the time it takes to complete their furniture.

The loan projects to be successful because it is supported by the presale of new designs that are coming out in the market and are being rotated within customer base, thus potentially increasing their sales. Furthermore, they will replace a high-cost loan, which would cut their profits, with this loan.
View original language description ↓
Gerardo de 54 años, vive con su cónyuge y se dedica con su hermano a la ebanistería; tienen un taller donde fabrican todo tipo de muebles en madera. Su negocio lo heredaron por tradición de su abuelo, de quien aprendieron las tareas propias de este oficio al cual hoy están dedicados completamente. Su principal clientela es tradicional, pues proviene de hace muchos años y también han conformado una base de datos de referidos por estos mismos, a quienes ha movido a comprarles, la calidad con la cual trabajan en este taller. Su meta es fortalecer su negocio y dirigir todos sus esfuerzos a su reposicionamiento, pues con la muerte de su padre, ha disminuido su capital de trabajo y para responder al crecimiento de su negocio, con el que cuentan no es suficiente para impactar su mercado con nuevos productos y respuesta rápida a su clientela, teniendo que acudir a prestamos de alto costo. Esta es la razón por la cual acuden a un credikiva, primer financiamiento que hace a la Fundación Mario Santo Domingo, con el cual comprarán materias primas como madera y una ruteadora manual, para continuar mejorando el acabado de los muebles. Su inversión de credikiva proyecta tener éxito porque se fundamenta en la preventa realizada, en nuevos diseños que saldrán al mercado y que son de mayor rotación entre sus clientes, potencializando el incremento de las ventas y principalmente porque remplazará con un credikiva un préstamo de alto costo, que le impide tener mayores utilidades.

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
  • 524
    View loans »
    Colombia Loans Fundraising
  • $14,666,500
    Funds lent in using Kiva
  • 1,784.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Gerardo to buy raw materials such as wood and manuel router.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 29, 2012
Listed
Jul 16, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2013