A loan of $700 helped to buy ingredients wholesale.

Antonio Segundo's story

Antonio Martínez Ramírez is 43 years old. He lives in the city of Barranquilla with his wife and five children. He has a stationary food stall where he sells roasted meat, grilled chicken breast, hot dogs, sausages, burgers and trays of French fries with sausages. He has had his business for 13 years and it is located just outside the Metrocentro shopping mall, one block from the Metropolitano soccer stadium, the biggest in Colombia.

Every day, Antonio starts selling his food at 4.00pm and his work day continues until after midnight. His best days for sales are Fridays, Saturdays and Sundays, especially when the local soccer team, Junior de Barranquilla, are playing. This small businessman's wife helps him to prepare his sauces and the ingredients with which he seasons his food.

This is Antonio's fifth loan through Fundación Mario Santo Domingo and he plans to invest it in buying ingredients wholesale. Antonio has always stood out for his punctuality in making his loan repayments. Before he came to Fundación Mario Santo Domingo, Antonio took personal loans through loan sharks who called at his business daily to collect payment. The interest rate that he paid was very high and he never had anything left over so he couldn't make any savings.

Antonio's average daily sales are 70,000 Colombian pesos and his profit margin is 45%. Although the recent winter season negatively affected his income, this small businessman is optimistic for the future because he already has an existing customer base. The competition in his field is strong and for this reason he takes care to offer a good product at a fair price and, above all, with very good customer service.

Translated from Spanish by Kiva volunteer Linda Oxnard

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