A loan of $450 helped to purchase two washing machines.

Francia Elena's story

Some time ago, Francia started her business of renting out washing machines. The income she generates goes toward supporting her family with the expenses. She has five children who range in age from 2 to 13. Her husband became a pensioner after suffering an accident at work. She also lives with her mother and her niece. Francia started her business in 2010 using the money from her husband’s severance pay. Her monthly sales result in a good profit margin that allows her to support her household. The business expenses are low since she manages to keep costs at a minimum. Her main expenses are machine repairs. Since she is able to achieve a high profit margin, Francia hopes to increase her inventory by purchasing two more washing machines. The demand for her service is high in the area where she lives. She has a great opportunity since there is no existing competition for this type of service. There have been many times when she has not been able to keep up with the demand from her customers. Her goal is to expand her business and take advantage of the marketplace by opening a variety store and stationery shop.

This Kiva loan is her first form of financing from Fundación Mario Santo Domingo. She will buy two washing machines so that she can respond to the daily demand that she has yet to meet. This investment will guarantee her success.

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Translated from Spanish by Kiva volunteer Ronan Reodica

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