A loan of $575 helped to purchase a freezer, a large quantity of beverages, chicken, and cold cuts.

Fredy Alfonso's story

Fredy is a 47-year-old married man who lives with his wife and two children, ages 16 and 20. He started working 20 years ago. His father was a wholesale fruit vendor and helped him start and develop his business venture. Fredy has been enthusiastic from the beginning and has worked independently all of his life. As a result, he has operated a profitable business. Fredy started out selling fruits Monday through Saturday in the town of Baranoa, which is 20 minutes from Barranquilla. On the weekends, he would also sell beer from his home in the Simón Bolívar neighborhood. This neighborhood is one of the most populated and more traditional areas of Barranquilla, where the first airport in the country is located. Fredy is also an industrial electrician and offers his services to earn additional income.

At the moment, he is requesting a loan for multiple purposes. He hopes to buy a freezer to replace the one he currently has because it has not been functioning lately. Fredy will also buy beverages in bulk and add chicken and cold cuts to his business. His financial records are in line with his business activity. Fredy's purchases are made with cash and he maintains a gross profit margin of 34.19%. His family expenses with respect to his operating profit represent 75.63%. Fredy’s accounts receivable are minimal since he has three customers who are pensioners and settle their bills at the end of the month. His dreams are for his family to improve their well-being each day and to see his children become successful at whatever they pursue. They serve as the motivation behind his work.

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Translated from Spanish by Kiva volunteer Ronan Reodica

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