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Carmen Socorro
Carmen is 61 years old and 20 years ago she learned to be a merchant. She sells small items to her family and friends began building her own working capital. She also learned through observation and developed the skills of a seamstress, so she started making dresses for her small group of family and friends. Gradually, they became her main market and led them to recommend her which helped her to expand her market.

Her business quickly grew and its need for working capital was also becoming more demanding. In order to meet the demands of her buyers, she had access to a loan to finance her line of credit. Currently she applying for a Kiva loan, this will be her second loan through the Santo Domingo Foundation. With a part of the loan she will buy wholesale fabrics to get greater volume discounts and increase production and with the other part of the money she will buy creams and cosmetics. Her customers have placed orders with her and she must respond very promptly to strengthen her offerings and thus make Kiva loan her best and most successful investment.
View original language description ↓
Carmen de 61 años de edad, desde hace 20 años aprendió a ser comerciante; ella vendiendo pequeños artículos entre sus familiares y amigos empezó a construír su propio capital de trabajo;tambien mediante la observación aprendió a desarrollar el arte de la costura de ropa, e inició haciendo vestidos a su pequeño grupo de familia y de amigos, los cuales poco a poco se convirtieron en su mercado principal y llevaron la vocería en materia promocional lo que la ayudó a crear nuevos nuevos mercados. Muy pronto su negocio fue creciendo y su capital de trabajo también fue siendo más exigente, para poder responder a la demanda de sus compradores, por eso debió acceder a financiación de su cartera de ventas a crédito. En la actualidad está aplicando a un credikiva, segunda solicitud que hace a la Fundación Mario Santo Domingo, mediante el cual con una parte comprará, telas en mayor volumen para ganar descuentos especiales y aumentar su producción de ropa y también comprará con la otra parte de dinero, cremas y perfumería, que su clientela le ha encargado y debe responderle muy oportunamente, para fortalecer su oferta y así hacer del credikiva su mejor y mas exitosa inversión.

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
  • 199
    View loans »
    Colombia Loans Fundraising
  • $13,129,225
    Funds lent in using Kiva
  • 1,783.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $850 helped Carmen Socorro use some of the loan to buy wholesale fabrics and with the other part of the money, she will buy creams and cosmetics.
99% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 7, 2013
Listed
Feb 15, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014