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Miguel
Miguel is 58 years old and lives in the municipality of Puerto Colombia, on the Caribbean coast. He has a repair shop for small home appliances like fans, blenders, irons, pressure cookers and washing machines. He runs his business out of his home. He has customers from his neighborhood as well as from other areas of the municipality of Puerto Colombia. Miguel is a self-taught repairman, little by little with persistence and discipline he has made significant progress. As a result he has great dreams of prosperity, one of them being to have a storeroom of repair parts that are frequently requested by his customers. Since the field he works in is not overly exploited, he has great opportunity to benefit from his business. However, his biggest challenge is not having sufficient working capital to be able to meet all the market requirements.

He is currently applying for his second loan through Fundación Mario Santo Domingo, which he will use to buy repair parts for fans, irons, washing machines, and blenders. With the first loan he took out through this organization he was able to buy his first stock of repair parts, which have given him very good results. He hopes to continue in the same way, growing his business.
View original language description ↓
Miguel de 58 años de edad vive en el municipio de Puerto Colombia, a orillas del mar Caribe, donde tiene un taller de reparación de electrodomésticos menores como abanicos, licuadoras, planchas, ollas a presión y lavadoras, negocio que funciona al interior de su residencia y conforma una clientela entre su vecindad y de otros sectores del municipio de Puerto Colombia. Miguel aprendió este oficio de manera autodidacta, y poco a poco con su persistencia y disciplina de trabajo ha logrado avanzar, por eso está lleno de muchos sueños de prosperidad, como el de tener un almacén con los repuestos que usualmente requieren sus clientes, pues este es un mercado que no está muy explotado, por lo cual representa para él una gran oportunidad, pero su mayor desafío es no contar con el capital de trabajo suficiente para estructurarlo con todos los requerimientos del mercado. En la actualidad está aplicando al segundo financiamiento con la Fundación Mario Santo Domingo, mediante el cual comprará repuestos para abanicos, planchas, lavadoras y licuadoras, pues con su primer crédito con esta organización, logró comprar su primer stock de repuestos y le ha dado muy buenos resultados, con los que espera continuar creciendo empresarialmente.

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
  • 562
    View loans »
    Colombia Loans Fundraising
  • $14,903,600
    Funds lent in using Kiva
  • 1,802.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $650 helped Miguel to buy repair parts for fans, irons, washing machines and blenders.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 22, 2012
Listed
Dec 12, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014