A loan of $325 helped buy a washing machine and other merchandise for rental business.

Rodolfo's story

Rodolfo V. is ambitious and hard-working. He has 5 children, from one- to ten-years old. He has worked along with his wife, with whom he has managed to build a successful business renting washing machines and selling washing soap and clothing, over the last two years. He lives with his family in Carrizal, a neighborhood famous for its Carnivale celebration and for the music that is practically a way of life among the residents. Rodolfo knows the neighborhood well and he's shaped his business to meet the needs that he sees. He used to buy on credit himself so he identifies with his customers, normal people from the neighborhood who are often relatives and friends. Rodolfo describes himself as responsible and serious. He approached the Fundacion Mario Santo Domino for a low-cost loan to pay off another higher-interest loan. His average monthly sales are COP$1,000,000 and his margin is 50%. He will use this loan from Kiva to buy a washing machine so that he can meet growing demand for his washing machine rental business. He will also pay cash for miscellaneous merchandise that he will buy in bulk. Rodolfo's dream is to buy a house for his family. He wants to continue expanding his business, something he can do with each new Fundacion loan. Rodolfo is happy that he can borrow from Kiva because his greatest challenge before was finding funds to expand his business. Once he establishes himself as a borrower with Kiva, he can start building a credit history.

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Translated from Spanish by Kiva volunteer Jere Wiseman

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