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Celia
30 years ago, forced to generate an income and contribute to the family expenses, Celia, who is now 56, started selling footwear and dresses to friends and relatives who would pay for the items in instalments. Her business gradually started to bear fruit and, although she now has a market stall, she needs to extend to other markets so as to increase her sales, make savings and eventually have a new and bigger shop of her own. Celia sells her goods for cash or credit 7 days a week from 8am to 5pm and collects the money owed to her on a weekly basis. She uses this money to make cash purchases in the town centre, where she qualifies for special volume discounts. This would be far more effective if she had more money to invest. It is for that very reason that she is applying to the Fundación Mario Santo Domingo for her first Kiva loan. She will use it to buy clothing, footwear and other items for women, increase her purchasing power, offer a wider range of goods and, as a result, boost her income. This is how she intends to make successful use of her Kiva loan.
View original language description ↓
Hace 30 años, por la necesidad de genera ingresos y para poder contribuir con los gastos de su familia, Celia una mujer de 56 años, se dedicó a la actividad comercial, vendiéndole calzado, vestidos a conocidos y familiares, para que estos, sus clientes, le pagaran poco a poco la totalidad del articulo. Su negocio gradualmente fue dando frutos y hoy tiene un punto comercial y necesita extenderse a otros mercados, con el fin de aumentar sus ventas, ahorrar y más adelante tener un local propio y mas amplio. Celia vende de contado y a créditos de lunes a domingos, en un horario que se extiende desde las 8 de la mañana hasta las 5 de la tarde y recupera el dinero de sus cuentas por cobrar, semanalmente, y con este mismo dinero compra de contado en el centro de la ciudad, donde encuentra descuentos especiales de acuerdo al volumen de compras, lo cual sería mucho más efectivo si tuviera mucho más dinero para invertir. Esta es justamente la razón por la cual acude a un credikiva, primer financiamiento que hace a la Fundación Mario Santo Domingo, mediante el cual comprará ropa, calzado y otros artículos femeninos, con ello aumentarían sus recursos de compra, ofrecería mas artículos y así mismo sus ingresos se incrementarían y este es la razón de éxito de su creidikiva.

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
  • 265
    View loans »
    Colombia Loans Fundraising
  • $13,496,050
    Funds lent in using Kiva
  • 1,834.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $650 helped Celia to buy clothing, footwear and other items for women.
99% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 26, 2013
Listed
May 17, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 19, 2014