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Luis Eduardo
Luis, who is 56, lives in the town of Soledad with his wife and his three children, who are aged between 10 and 25. In April, 9 years ago, he set up his own business, having been encouraged to do so by his mother-in-law, who has always been a shopkeeper. She passed on her knowledge to her young daughter who then helped her mother in the business. When they got married, Luis' wife decided to start selling clothing and underwear, small electrical appliances and footwear, for which there had been a previous demand among her customers. Their business gradually grew and so Luis used what he had saved from his redundancy pay to expand the business, in which his wife still serves the customers, while he works as an employee so as to generate two incomes and increase his family's wellbeing. They sell goods for cash and on credit and make purchases in cash in the city of Barranquilla, where the warehouses and distributors offer them the best prices. Today Luis' great ambition is to see the family business grow even more and that is why he is applying to Fundación Mario Santo Domingo for his first Kiva loan, which he will use to buy sets of cookware, small electrical appliances, household goods, clothing and footwear, because sales of these goods are increasing as Mothers' Day approaches. Luis and his wife want to be ready to rotate their stock for Mothers' Day and that is precisely why their Kiva loan will prove to be a succesful investment.
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Luis de 56 años de edad habita en el municipio de Soledad, con su cónyuge y sus tres hijos en las edades de 10 a 25 años. Hace 9 años, en el mes de abril inició su propio negocio , inducido por su suegra, quien siempre ha sido comerciante y enseñó a su hija esta actividad desde muy niña, pues ella se dedicaba a ayudar a su madre. Al contraer matrimonio, su esposa decidió dedicarse al comercio de ropa interior y exterior, electrodomésticos menores y calzados, encargado previamente por sus clientes. Poco a poco, su negocio fue creciendo, pues Luis invertía el ahorro de sus cesantias en la ampliación de este y hoy continua siendo atendido por su esposa , mientras él trabaja como empleado, para generar dos ingresos y aumentar el bienestar de su hogar. Sus ventas las realiza de contado y a crédito y sus compras las hace de contado en almacenes y distribuidores, que le ofrecen mejores precios en la ciudad de Barranquilla. Hoy Luis tiene muchos sueños de hacerlo crecer aun más su negocio familiar y por eso está aplicando a un creidikiva, primer financiamiento que hace a la Fundación Mario Santo Domingo, con el cual comprarán juegos de ollas, electrodomésticos menores, artículos para el hogar, ropa y calzado, pues se acerca el día de las madres y se incrementan las ventas de estos artículos. Luis y su esposa quieren estar preparados, para la rotación de las mercancías alusivas al día de la madre y esto es justamente lo que hace que su creidikiva se convierta en una 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.

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About Colombia

  • $6,070
    Average annual income
  • 281
    View loans »
    Colombia Loans Fundraising
  • $13,600,025
    Funds lent in using Kiva
  • 1,834.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,200 helped Luis Eduardo to buy small electrical appliances, household goods, clothing and footwear.
99% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 29, 2013
Listed
May 17, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014