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José  Regulo
José is 24 years old and lives with his spouse in the city of Soledad, where he earns his living selling clothing, beauty products, and basic provisions. He has been in this business for three years; he has been very familiar with this business since he was little because his mother also sold cosmetics and household products from specialized catalogs.

When he was studying at the university, José realized he could capitalize on that potential customer base and he started his business with support from his mother. She provided the items for him to sell, and he reimbursed her for them later. So little by little and with references from his mother, who worked in a beauty salon, he built his clientele and grew his business.

Today, he travels to other cities to buy various merchandise, looking for ways to satisfy his buyers' needs at the best prices. He currently sells for cash or on credit; he makes his purchases with cash in hand so that he can sell the items both in his neighborhood and in other areas.

He is now applying for his first loan with Fundación Mario Santo Domingo. He will use the money to buy clothing, beauty products, and food items to sell to his customers, increasing his working capital a little more and driving sales during the most commercial season of the year, the last third.
View original language description ↓
José de 24 años habita con su cónyuge en el municipio de Soledad, donde se dedica a la venta de ropa, productos de belleza y víveres en general. Desde hace 3 años realiza la actividad comercial, muy conocida por él, desde muy pequeño, pues su madre también se dedicó a la venta de cosméticos y productos del hogar, mediante guías especializadas. José al estar estudiando en la universidad, pensó en aprovechar este potencial de clientes e inició su negocio, con el apoyo de su madre quien le proveía los artículos para que los vendiera y el finalmente devolvía el valor de los artículos a ella. Así poco a poco construyó su clientela y referenciado por su madre, quien trabajaba en una peluquería, logró crecer. Hoy viaja a otras ciudades a comprar mercancías variadas, buscando los mejores precios para sus clientes y la manera de satisfacer las necesidades de sus compradores. En la actualidad vende a crédito y de contado, mientras compra con el dinero en la mano, para vender artículos desde su barrio,, hacia otros sectores de la población. Hoy día está aplicando a un primer financiamiento en la Fundación Mario Santo Domingo, mediante el cual comprara ropa, productos de belleza y víveres, para venderlo a su clientela e incrementar un poco mas, su capital de trabajo, impulsandoasí la venta en la temporada mas comercial de todo el año: el último trimestre.

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
  • 503
    View loans »
    Colombia Loans Fundraising
  • $14,682,350
    Funds lent in using Kiva
  • 1,879.9
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped José Regulo to buy clothing, beauty products, and food items.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 17, 2013
Listed
Oct 25, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 22, 2014