A loan of $450 helped to buy ingredients like oil, salt, eggs, etc. in larger amounts.

Juan Carlos's story

Juan, 41, lives in the city of Barranquilla’s Santo Domingo neighborhood with his wife and two children who are 8 and 14 years old. As a father and head of household he earns his income selling food and fried snacks in general, a business he started selling "arepas" [stuffed griddle-cake made of soaked corn ground into a paste or dough], turnovers and fried cheese fingers that micro businesses in the neighborhood made and he focused on establishing a market share among his friends and among stores. Today, he prepares all these products himself and sells them in a food and beverage stand that many customers patronize because it’s located on a very busy corner.

His Kiva loan is his first financing with Fundación Mario Santo Domingo. He will use it to buy raw materials like oil, sugar, salt, eggs, etc. in larger amounts. He plans to qualify for discounts for paying cash and for buying in larger than normal amounts this way. His goal for later on is to have a place of his own where he can prepare meals for his customers and this is precisely the motivation behind his working diligently in his business where he currently has a profit margin over sales of 18% and an inventory turn around rate of 8 days, financial indicators from which we can predict growth and a successful investment of the Kiva loan.

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Translated from Spanish by Kiva volunteer Polliz

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