A loan of $650 helped buy in larger volume, groceries, soft drinks, liquors, and meals to sell.

Yonnis Alberto's story

Yonnis is 38 years old and owns a store located south west of the city, where he lives with his wife and their 3 children, ages 6 through 17. He has 4 years experience in running stores but it was just in 2010 that he began his own store, investing little by little and generating more income each day. Initially, he sold products brought from a neighboring country which he distributed among many businesses and families in the surrounding areas.

At present, Yonnis is beginning to sell groceries daily in quantities adjusted to what his clientele can pay, creating a good commercial opportunity. He purchases groceries and meats from the storehouses of ranches, and sells them in his store. These articles are the items most in demand in his store. He sells 80 % for cash and 20 % for credit, between the hours of 6:00 am and 10:00 pm, Monday through Sunday. His principal customers are residents of the barrio, especially women, who daily carry home the purchases of the day, obtained from Yonnis' store, to prepare meals for their families.

Yonnis' goal is to increase sales, but his major challenge is to obtain sufficient working capital to achieve that. That is why he is presently applying for a Kiva loan, his first financing through the Fundacion Mario Santo Domingo, to purchase a larger volume of groceries, soft drinks, liquors, and meals, in order to obtain discounts and diminish transportation costs. The frequency with which, until recently, he has been forced to make purchases, made his expenses higher. With this Kiva loan, he will buy in larger volume and reduce the frequency of purchases. This is what will make his present investment more successful.

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Translated from Spanish by Kiva volunteer Harold Dana Sims, PhD

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