Total loan: $2,825
Barranquilla, Atlantico, Colombia / Services
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A loan helped to buy iron, copper, steel, aluminium, bronze, scrap metal, and motorcycle scraps.
Gustavo owns a scrapyard located to the south of the city, where he lives with his wife. He has three children, ranging in age from 18 to 27. Iron, copper, steel, aluminium, bronze and scraps are the products Gustavo works with every day. He buys them every day and sells them to recycling plants in order to generate income and support his family. He sells his products wholesale for cash twice a week, and he buys the products every day non-stop from 8:00am to 6:00pm. At the moment, his goal is to strengthen his scrapyard business, which is why he is applying for a Kiva loan. He will use it to buy iron, copper, steel, aluminium, bronze, and scrap metal, and he will also start up a new business option, which is setting up a warehouse for motorcycle scraps. His Kiva loan will improve his business as it will increase his working capital, giving Gustavo the opportunity to invest a lot more and thereby achieve an increase in sales. This will have an impact on the profits of the business, which will mean an increase in his family’s wellbeing.