A loan of $650 helped to buy repair parts for fans, irons, washing machines and blenders.

Miguel's story

Miguel is 58 years old and lives in the municipality of Puerto Colombia, on the Caribbean coast. He has a repair shop for small home appliances like fans, blenders, irons, pressure cookers and washing machines. He runs his business out of his home. He has customers from his neighborhood as well as from other areas of the municipality of Puerto Colombia. Miguel is a self-taught repairman, little by little with persistence and discipline he has made significant progress. As a result he has great dreams of prosperity, one of them being to have a storeroom of repair parts that are frequently requested by his customers. Since the field he works in is not overly exploited, he has great opportunity to benefit from his business. However, his biggest challenge is not having sufficient working capital to be able to meet all the market requirements.

He is currently applying for his second loan through Fundación Mario Santo Domingo, which he will use to buy repair parts for fans, irons, washing machines, and blenders. With the first loan he took out through this organization he was able to buy his first stock of repair parts, which have given him very good results. He hopes to continue in the same way, growing his business.

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Translated from Spanish by Kiva volunteer Tricia Kell

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