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Manuel Benjamin
Manuel is 62 years old and lives in the district of Salgar, a seaside resort in the municipality of Puerto Colombia, on the Caribbean coast. Among the music, the waves, the sun, and the breeze, he has a store where he sells sodas and drinks, canned food, and groceries in small amounts, in keeping with his customers' daily shopping possibilities.

Manuel has five years of experience in his business. He started it back when he was a regional bus driver and decided to start a business so that his wife could generate another income while taking care of the home at the same time. He makes sales for cash and on credit, and his daily schedule is from 6:00 AM to 9:00 PM. He makes 90% of his purchases on credit, buying from wholesale warehouses in the city of Barranquilla, 25 minutes away.

He is currently applying for a Kiva loan, which he will use to buy rice, oil, grains, detergent, groceries, fruit, meat, soft drinks, and dairy products in larger amounts so that he can get discount prices. His goal for the future is to expand his business until it becomes a self-service store and eventually build a second floor to separate his living space from his business in order to obtain peace and quiet.
View original language description ↓
Manuel de 62 años de edad, vive en el corregimiento de Salgar- balneario del municipio de Puerto Colombia, a orillas del Mar Caribe. Allí al ritmo de la música, las olas del mar y el sol y la brisa, tiene una tienda donde vende refrescos y bebidas, ranchos y víveres, en pequeñas cantidades de acuerdo a las posibilidades de compras diarias, de su clientela. Manuel tiene 5 años de experiencia en su negocio, el cual inició cuando era conductor de buses intermunicipales y decidió crear un negocio, para que su esposa generara otros ingresos, mientras atendía las labores del hogar simultáneamente. Sus ventas las realiza de contado y a crédito, con una frecuencia diaria desde las 6 de la mañana hasta las 9 de la noche, mientras sus compras las realiza en un 90% de contado, en depósitos mayoristas de la ciudad de Barranquilla, a 25 minutos del corregimiento. En la actualidad está aplicando a un credikiva, mediante el cual comprará arroz, aceites, granos, detergentes, víveres, frutas carnes refrescos y lácteos en mayor volumen para ganar descuentos. Su meta más adelante es ampliar el negocio hasta convertirlo en un autoservicio y finalmente construir una segunda planta, que diferencie su espacio comercial del familiar y lograr total sosiego.

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
  • 270
    View loans »
    Colombia Loans Fundraising
  • $13,600,025
    Funds lent in using Kiva
  • 1,824.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Manuel Benjamin to buy rice, oil, grains, detergent, groceries, fruit, meat, soft drinks, and dairy products.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 16, 2012
Listed
Nov 20, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014