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Libia
47-year old Libia has three children between the ages of 14 and 16. She has thirteen years of experience making women’s sandals, and she also makes wheat flour-based desserts and other products which she sells for cash or on credit. With the income she has managed to support her family and grow the businesses. Libia works every day of the week from 10 in the morning to 8 at night. Her customers are mostly neighbours or people living nearby who have been referred to her.

Right now orders from customers are greater than her ability to buy ingredients because she doesn’t have sufficient working capital. Nor can she buy in large quantities so she can get a discount. For this reason she is asking for a loan from Kiva, via the Mario Santo Domingo Foundation, her first with this organization. With the money she will buy materials and increase production of women’s sandals. She also plans to buy ingredients and supplies to make desserts and in this way be able to respond to her customers’ requests in a more timely manner.
View original language description ↓
Libia de 47 años de edad es madre 3 hijos en las edades de 14 a 16 años. En sus 13 años de experiencia ha logrado sostener su hogar y fortalecer sus negocios, mediante los cuales produce sandalias femeninas, elabora productos derivados de la harina de trigo y postres, además de ofrecer mercancías variadas, de contado y a crédito. Ella permanece trabajando de lunes a domingos, desde las 10 de la mañana hasta las 8 de la noche. Sus principales clientes son sus vecinos y referidos por estos, que están ubicaos en el área de acción de su domicilio. En la actualidad el aumento de las solicitudes de su clientela variada, es superior a su capacidad de compra, pues no tiene un capital d trabajo suficiente, para lograr responderle oportunamente y ganar descuentos por compras en mayor volumen; esta es la razón para acudir a un credikiva, su primer financiamiento que hace a la Fundación Mario Santo Domingo, mediante el cual comprará materiales para aumentar su producción de sandalias para damas y para comprar materias primas e insumos con los cuales elaborará postres con lo cual tendrá disponibilidad de productos para servir efectivamente a su clientela.

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
  • 388
    View loans »
    Colombia Loans Fundraising
  • $14,624,375
    Funds lent in using Kiva
  • 1,813.2
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $450 helped Libia buy materials for making women's sandals, and ingredients for making desserts.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 18, 2013
Listed
Mar 6, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 18, 2013