A loan of $625 helped to buy supplies for his restaurant business.

Julio's story

Julio, 19, lives on the south side of Barranquilla. He and his mother started a restaurant in Cartagena two years ago and moved it to Barranquilla when they returned there. They open the restaurant for breakfast and lunch. Their main customers are people who live in the neighborhood or workers at the factories nearby. Julio wants to study for a degree in Electronics. He hopes that his business will grow and prosper because it is the main source of income for him and his family. He plans to buy bulk supplies of the goods he needs for the restaurant so that he can save on transportation costs, lower his costs for the goods and save the time he has to spend buying what he needs for the restaurant. He will use this Fundacion Mario Santo Domingo loan, with help from Kiva lenders, to buy what he needs--rice, cooking oil, pasta, salt, sugar, sauce and tableware--to operate his business and provide a better service. The investment will help him grow the business. Our analysis shows that he can cover the costs of his monthly payments with only 18 days of revenue and that his profit margin is 18% or more. This loan will help him improve both measures.

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Translated from Spanish by Kiva volunteer Jere Wiseman

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