A loan of $1,150 helped to buy accessories for shoes and shoe making materials and supplies such as uppers, soles, insoles, and buckles in bulk.

Sergio David's story

Sergio is a 24 year-old youth who has a business named “Peleteria Planet Suelas” where he sells materials and supplies used by shoemakers and small businessmen in this trade, who are his main market. He sells uppers, soles, insoles, buckles and a variety of accessories that are used by shoemakers to adorn their shoes. He learned this business through family tradition, as his family has been in the same line of work ever since they lived in his hometown of Bucaramanga, a place also called "the city of parks," which is located in the department of Santander del Sur. Although he has been building up experience since he was 15 years old, he had always worked in the family business. A year ago, he became independent so that he could generate his own income, because as he is an adult with a 1 year-old child, he had to start thinking about the development of his family with his wife. His main challenge is that he doesn't have enough capital, and this makes him less competitive since he loses customers. This is the reason that he is applying for a Kiva loan, the first financing that he has gotten through the Fundación Mario Santo Domingo. With the loan, he will buy accessories for shoes and materials and supplies such as uppers, soles, insoles and buckles in large quantities so that he can get a bulk discount. But above all, he will be able to have a greater assortment of items that will allow his new customers to have a better view of his business. Meanwhile, he maintains a 55 day inventory turn-over, and profitability of no less than 20 percent. Also, he hopes to leave a traditional legacy to his family by strengthening his business and achieving sustainability over time.

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Translated from Spanish by Kiva volunteer Lisa Grobar

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