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Richard
Accion just funded a young entrepreneur from Miami, Florida! From a young age, Richard noticed the importance of cell phones to cut family banking costs. In particular, in rural communities like the one he grew up in Venezuela, the use of cell phones to bank online and pay bills dramatically cut back the cost for a farmer in transportation fees to and from cities to meet with their banker.

Richard wanted to help more people in his community to purchase cell phones but noted how expensive they were. Richard knew that because he lived in the United States that he could purchase cell phones in Miami for much cheaper than in Venezuela. From this realization, Richard's business idea was born.

Richard's business focuses on the sale of cellular phones and other electronics to buyers in Latin American countries. He discovered that, on average, electronics are usually three to five times more expensive abroad than in the United States. Richard sells his electronics to companies throughout Latin America to sell in rural communities at a more reasonable price.

As an entrepreneur in his early 30's, Richard continues to study while running his business; all in an effort to better prepare him for future success. Richard was hard hit by the financial crisis three years ago and was forced to diversify his products in order to continue to provide for his family. Richard is slowly taking steps to formalize and build his business in the hopes of experiencing growth that will enable him to hire employees and move to an office location. Richard is requesting a loan from ACCION to purchase new electronics for re-sale to be able to meet the growing demand for his services. Help this young entrepreneurs' business grow!

About United States

  • $47,000
    Average annual income
  • 16
    View loans »
    United States Loans Fundraising
  • $11,545,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $7,175 helped Richard to purchase electronics for re-sale.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 2, 2012
Listed
Aug 31, 2012
Currency Exchange Loss:
N/A
Ended:
Jul 17, 2014