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Olga
Olga, 59, is a widow and a mother of four children between 22 and 30 years old. She inherited her late husband’s business of selling handmade products and raw materials for making crafts such as hammocks and bags. The business also sells thread, wire, string, and other things to customers and middlemen that resell it. The majority of sales are made using cash and some customers receive goods on credit. In addition, she travels to the city of Barranquilla to buy her supplies because she finds reasonable prices there which help her maintain her place in the market.

She is currently requesting her third loan with Fundacion Mario Santo Domingo which she will use to buy materials to sell in her business such as cotton thread and acrylic thread. She will also make improvements to her business and put in a ceramic floor. With this new investment, she will fulfil her goal of growth and improvement of her property which is her biggest challenge.
View original language description ↓
Olga de 59 años de edad es una mujer viuda y madre de 4 hijos en las edades de 22 a 30 años. Ella heredo de su esposo fallecido, el negocio de vender productos artesanales y materias primas para la elaboración de manualidades como hamacas, bolsos mochilas y también vende, hilos comunes, hilo, piola y otros a clientes que lo consumen y a intermediarios que lo venden. Sus ventas las realiza de contado la mayor parte pues tiene también clientes qu ele venden a crédito. Así mismo viaja a la ciudad de Barranquilla para hacer sus compras de insumos pues en esta ciudad encuentra precios razonables que le facilitan el sostenimiento de ella en el mercado. En la actualidad está aplicando a su tercer crédito con la Fundación Mario Santo Domingo, mediante el cual comprará materiales para vender en su negocio como hilazas de algodón, hilo acrílico, también hará reparaciones locativas en sus instalaciones y pondrá piso de cerámica. Con esta nueva inversión estará cumpliendo su meta de crecimiento y de mejoramiento de su vivienda la que es su mayor desafío.

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
  • 223
    View loans »
    Colombia Loans Fundraising
  • $12,881,350
    Funds lent in using Kiva
  • 1,822.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Olga to buy material to sell in her home such as cotton thread and acrylic thread. It also helps her make repairs to her business and put in a ceramic floor.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 31, 2012
Listed
Sep 14, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2013