A loan of $900 helped to buy and distribute rocking chairs.

Magaly Esther's story

Magaly, 50, lives with her husband in the Américas neighborhood on the southwest side of the city and they have three children, ages 21 through 26. As a family they have built their dreams little by little and with their savings were able to eventually own their own home. Also the family achievements show in the current business which has been responsible for family, entrepreneurial and personal growth.

Magaly has been selling different merchandise such as clothing, shoes and accessories for 15 years. She distributes her products on a credit basis to her customers who include neighbors, family and referred acquaintances through her best buyers. Her experience dates back to when she was 15 years old and worked for a clothing manufacturer. Thanks to this activity she has been able to supervise her children's education and this is very important for the family. Her credikiva is the 11th loan Magaly has had through the Mario Santo Domingo Foundation. She has been a member for ten years and has been able to improve her family's lifestyle thanks to the loans. Her first credikiva will be used to buy rocking chairs in the city of Sincelejo which she will distribute among interested customers who have already placed orders. Her current accounts receivable turnover is 15 days and profit on sales is 35%. These are the financial indicators we used to project growth potential and we forecast a successful investment from her credikiva.

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Translated from Spanish by Kiva volunteer Sherry Bess

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