Fredy now has a market for his products and sells them for cash or on credit. He has aspirations of expanding his business and offering new product lines. His greatest challenge is competition since there are many cheap shoes available for sale in the marketplace. Despite his lack of business experience, Fredy’s entrepreneurial spirit and commitment to service are his greatest strengths which will help him overcome this challenge.
This Kiva loan is the first one he has received from Fundación Mario Santo Domingo. He will use the money to buy leather, accessories, and an industrial sewing machine to improve his manufacturing processes for creating a high-quality product. As a result, he will be able to expand his market. One can predict that by being disciplined and utilizing his negotiating skills, Fredy will become a great success and make each moment a productive one.
About Fundación Mario Santo DomingoFundación Mario Santo Domingo (FMSD) is a non-profit organization in northern Colombia dedicated to developing programs for the country’s poorest communities. In addition to numerous social services, FMSD runs a microfinance program to strengthen micro-businesses in the areas where it works. The organization also offers several non-financial components as part of this program, including training to help entrepreneurs start their own businesses.
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Success!! The loan was 100% repaid