A loan of $650 helped to buy merchandise such as: cell phone activation chips.


Osvaldo's story

Osvaldo Gaspar Ríos Fernández is married to Mercedes Morinigo and the father of 3 children ages 12, 10, and 6, respectively. This client currently dedicates himself to the activation and sale of cell phone chips. He was previously on the staff of the Ministry of Defense. He resigned in 1998 after 10 years of service because his salary did not permit him to support his wife and his then two children, nor much less allow him to expect a life even halfway respectable. This is how, that same year, he joined the Sales Department of a personal electronics enterprise and then later started selling pre-paid lines. Since then, he has worked buying electronic chips to sell himself. Osvaldo states that he had never been able to expand his business until his loan through Fundación Paraguaya, because he lacked the necessary documents required by other financial entities and banks in order to obtain a loan through them. Once finally able to access credit, he obtained a site for his business in the city of Lambaré. His store is stocked with cell phone accessories as well as activation lines, and he also sells pre-paid lines. He is grateful to the Fundación Paraguaya for helping him with his first loan and, thanks to this help, he now has his own store.

Translated from Spanish by Kiva volunteer



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