A loan of $1,150 helped to purchase silver accessories in the latest designs.

Marve Luz's story

Marve Luz is an enterprising woman who lives in the town of Baranoa with her husband and their two young daughters. There she has a business selling jewelry made of crystal and silver. In addition, Marve sells lingerie. Her primary customer base is composed of local teachers to whom she offers financing and monthly installment plans. She asks for a down payment of 20%. Marve has five years of experience and started this commercial venture as a way to help manage her household. Her husband is self-employed and assumes responsibility for all of the expenses. Marve earns additional income working for the Colombian Institute of Social Welfare in the “Community Mothers” Program that was started by groups of women in the 1970s. This initiative was started in order to look after children living in crowded neighborhoods by seeking child support from their absent fathers and mothers who have left to find work. The Colombian Institute of Family Welfare (ICBF) took advantage of this initiative and started its own program with the strategy of providing low-cost child care to the poorest families. Caretakers who look after these children in their own homes receive grant money for their work.

Marve Luz enjoys her job and has two young daughters who she dreams of seeing become successful professionals. They serve as her motivation, so she is committed to growing her business in order to see her dream come true. Her customer base has grown tremendously as a result of the loans she has received from Fundación Mario Santo Domingo. This Kiva loan is her third instance of financing with the organization. She will use the money to buy new designs of silver accessories that are in style and have been ordered. In her business, Marve Luz is able to maintain a profitability rate of no less than 35% and an inventory turnover period of no more than 60 days so that she can recoup her investment. Her Kiva loan will help her continue growing because her operating capital at the moment is insufficient in helping her respond to new customers.

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Translated from Spanish by Kiva volunteer Ronan Reodica

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