A loan of $1,125 helped to acquire three washing machines for his rental business and to purchase sandals to sell.

Hernando's story

Hernando is a gentleman who is devoted to his businesses. One of them involves renting out washing machines in the town of San Jacinto, which is in the Department of Bolívar. He started this business three years ago after he gained experience working for a relative who provided this same service. Hernando is the type of person who is aware of opportunities and takes advantage of them to the fullest. He started another business buying sandals in bulk and selling them on credit. His wife takes part in this business. He has other investments, such as selling motorcycles on credit and collecting payments each month.

His washing machine rental business has been strengthened in terms of more customers, but the equipment needs to be replaced. For this reason, his goal is to buy more machines so that he can respond better to his customers and continue generating income to improve his family’s well-being. This Kiva loan is the first one he has received from Fundación Mario Santo Domingo. Hernando will use the funds to buy three washing machines, as well as sandals that come in modern designs that will appeal to the local women. He foresees that his investments will be successful since he will be able to respond to service requests and increase his chances of attracting new customers who need to rent washing machines. His busiest times are on Fridays, Saturdays, Sundays, and fair days since many customers have no one else who can meet the demand on those days. While he continues to build his dream, Hernando strives to increase profitability. At the moment, the profit margin from his sales is a minimum of 29%.

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Translated from Spanish by Kiva volunteer Ronan Reodica

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