A loan of $650 helped to buy recyclable materials.

Francisco Manuel's story

Francisco, 44, lives with his spouse; they have five children whose ages range from 10 to 25 years. He owns a recycling center that’s been in operation about three years and which arose through his spouse’s initiative and is located in a small town near the city of Barranquilla. He works there with his spouse and his father-in-law selling copper, aluminum, tin, steel, bronze, cardboard and other types of recyclable materials. With his sales that are mainly to two important clients in the city he’s able to cover family and operational costs. He currently has no passives but has some basic fixed assets that are necessary for his business. His goal for later on is to have a truck of his own to transport the recycled materials but his working capital is insufficient at the moment to reach it.

He’s currently applying for his first Kiva loan which is also his first financing with Fundación Mario Santo Domingo that he’ll use to buy recyclables in larger amounts like copper, aluminum, tin, steel, bronze and cardboard to meet customer demand. Success of the investment rests on the fact that his sale is guaranteed and they will be able to respond to their market in an opportune way because sometimes they fall short of meeting customer demand.

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Translated from Spanish by Kiva volunteer Polliz

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