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Rosalio
Rosalío is 61 years old. He is a widow and the father of six children between the ages of 25 and 36. He has twenty years experience in preparing and selling food.

Rosalío set up his own business eight years ago with a loan that he received from his father which was his first lot of working capital. In the years since then, he has worked hard to improve his skills in what he enjoys most: cooking. His business has changed his family's life because it has made him the income he needs to support his household. Rosalío has worked hard to be able to afford the ingredients that he uses in preparing his food and this has given him independence. His biggest challenge comes at the end of each year. Owing to the numerous family parties that take place over the Christmas and New Year period, households consume a lot more than normal and Rosalío's working capital is not high enough to respond to the demand he experiences. For this reason, he is applying for a Kiva loan (his first loan from Fundación Mario Santo Domingo). He will buy rice, oil and other food products so that he will experience very good sales over the Christmas and New Year period. He also hopes to make very good profits.
View original language description ↓
Rosalío de 61 años es un hombre viudo padre de 6 hijos de 25 a 36 años de edad. Su experiencia en la preparación y venta de comidas, data de hace 20 años, aunque solo desde hace 8, emprendió su propia aventura empresarial, con un préstamo que hizo a su padre, el cual fue su primer capital de trabajo. Desde eses momento ha desarrollado la tarea productiva en lo que más le gusta: la cocina. Su negocio ha cambiado la vida de su familia, porque ha generado ingresos para el sostén de su hogar y con su propio esfuerzo compra los insumos que utiliza para la preparación de alimentos y esto le genera autonomía. Su mayor desafío llega a final de cada año, cuando por efecto de las fiestas familiares de Navidad y año nuevo, los hogares consumen mucho más y su capital de trabajo no es suficiente para responder a la demanda planteada. Esta es la razón por la cual acude a un credikiva, primer financiamiento que hace a la Fundación Mario Santo Domingo, mediante el cual comprará arroz, aceite, y víveres en general, para hacer de estas navidades y recibir el año nuevo con su mejor venta del año y por supuesto con una muy buena utilidad.

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
  • 576
    View loans »
    Colombia Loans Fundraising
  • $14,702,900
    Funds lent in using Kiva
  • 1,778.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Rosalio to buy rice, oil and other food products.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 27, 2012
Listed
Jan 1, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 18, 2013