A loan of $975 helped to purchase materials for making shoes and handbags.

Beatriz's story

Beatriz is 25 years old and lives south of the city, where she makes a living designing and selling shoes and handbags; she sells them both wholesale and retail. Her business is based out of her apartment. She purchases materials for her business such as rubber, fique fiber, micro suit fabric, insoles, and packing material. She designs the shoes and then takes the materials to a cobbler who makes the shoes for her. Once the shoes are finished Beatriz packs them up and delivers them to her customers. She also makes handbags, though that is a smaller part of her business. She sells her items for cash and for credit. Beatriz gets new customers through the Internet, on Facebook, in street markets, and by handing out fliers and business cards. She also sells to two stores in Santa Marta. The competition is low, and she meets the competition with the quality of her products, her success in fulfilling orders, and the overall satisfaction of her customers. Her shoes are very beautiful and original with ecological patterns. Her business has directly created two jobs—hers and the cobbler’s—and contributes to the business of the two vendors who sell her products in the city of Santa Marta.

Beatriz has an excellent financial record. Her business is small, since she sells most of her products for cash. Her infrastructure is adequate for this type of business, and her financial record reflects an economic situation that is both stable and solvent. However, as Beatriz’s clientele expands, her biggest challenge is having enough working capital to purchase materials for her business. That is why she has decided to take out a loan. This is Beatriz’s first loan with Fundación Mario Santo Domingo, and she will use it for working capital. She will use it to maintain a cash fund for purchasing the materials she needs to produce shoes and handbags, which she will sell wholesale and retail. Beatriz also wants to register her brand with the relevant government agencies, since that has been one of her goals.

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Translated from Spanish by Kiva volunteer Chris Knutson

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