A loan of $650 helped to buy raw materials in large quantities like plywood and paint.

Freincy's story

Freincy, 36 years old, lives southwest of the city with his wife and their two children who are 15 and 16 years old. He studied through the 7th grade and when he was 17 years old quit studying and started working. He began as a helper in a restaurant and in bakeries, where he worked for almost 10 years until he decided to start his own business. After working a while as an assistant making cabinets and learning a lot in this business, he was able to open his own business in his community. Today it has been five years since he started making profit in this business, with allows him to support his family. He makes entertainment centers, display cases and other items from wood. He does not only sell to neighbors but also to a select clientele which he has built.

His goal for the future is to buy a house for his family and have a commercial space for his business that has better conditions than where he is currently located. This is the first loan he has taken out through Kiva, as well as the first financial assistance he has received from the Mario Santo Domingo Foundation. He will use it to buy raw materials in large quantities like plywood and paint. His investment will be successful because by purchasing in bulk he will get discounts which will increase his profits and also because he has current customers who like his work and who highly recommend him. Aside from working persistently, he also manages an accounts receivable turnover which does not exceed 34 days and has a return on sales not less than 30.7%.

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Translated from Spanish by Kiva volunteer Tricia Kell

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