Funded

Total loan: $575
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Gerardo

Colombia
Barranquilla, Colombia / Furniture Making

A loan of $575 helped to buy raw materials such as wood and manuel router.


Gerardo's story

Gerardo is 54 years old, lives with his wife, and along with his brother, is a carpenter. They have a workshop where they make all types of wood furniture. The brothers inherited their business from their grandfather from whom they learned the skills necessary for the trade to which they are completely dedicated today. Principally, their customers are traditional and have been loyal for many years. Also, the brothers have formed a base of customer referrals thanks to the quality of their work.

Their goal is to strengthen their business and to direct their efforts to repositioning themselves. With the death of their father, their working capital has diminished. In order to respond to growth of their business and impact the market with new products as well as respond rapidly to requests of their customers, they were forced to take out high-cost loans.

It is for this reason that they are applying for their first loan from the Fundacion Mario Santo Domingo (Mario Santo Domingo Foundation) with which they will buy raw materials such as wood and a manual router in order to lessen the time it takes to complete their furniture.

The loan projects to be successful because it is supported by the presale of new designs that are coming out in the market and are being rotated within customer base, thus potentially increasing their sales. Furthermore, they will replace a high-cost loan, which would cut their profits, with this loan.

Translated from Spanish by Kiva volunteer Carrie Straub



Loan details

Loan length:

15 months
Disbursed date: June 29, 2012
Facilitated by Field Partner: Fundación Mario Santo Domingo (FMSD)

Lenders and lending teams



Loan details

Loan length:

15 months
Disbursed date: June 29, 2012
Facilitated by Field Partner: Fundación Mario Santo Domingo (FMSD)