A loan of $325 helped to buy cotton yarn to increase production.

Rosiris Margoth's story

Rosiris, 42, is a widow who lives in San Jacinto with her four children, ages six through 21. Three of them study and the eldest works. In a land where vertical weaving is an abundant craft, Rosiris earns a living making hammocks, bags and bands, which is a trade she learned as a family tradition. When she became a widow she began to focus more on the activity. During the day she makes hammocks and at night she makes bands to order earning 2,000 COP per band. She makes a minimum of three per night. They live in their own house close to her mother and two siblings. Her family is very supportive of Rosiris and ever since her husband passed away they have helped out raising the children. And thankfully there is one son who works and contributes to the household expenses.

This is her first credikiva loan through the Mario Santo Domingo Foundation and she plans to buy cotton yarn to increase production. She is very sure that the investment will be successful because she is perfectly familiar with the business and has had loan experience. She has always paid them back on time through her hammock production and she also has the support of her mother who helps her make the crafts.

Rosiris has received two loans through the Mario Santo Domingo Foundation in the past two years. With them she has been able to buy materials to make hammocks and back-packs, as well as small animals such as pigs and hens. When she finished paying back the Foundation she still had a couple of pigs and hens as a profit. Her goal is to capitalize her business so she can add more products. She also wants to improve her house and insure her children finish their secondary education and get a university degree. While Rosiris works toward her goal, she generates a contribution margin of 45.9%, an inventory turnover of 15 days and an accounts receivable turnover of one day, so what she sells on credit is paid the next day. These are the financial indicators that we have used to project growth potential and we forecast a successful investment with her credikiva.

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Translated from Spanish by Kiva volunteer Sherry Bess

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