A loan of $1,700 helped to make bulk purchases of sauces, sausages, meat and supplies for the sale of hotdogs, hamburgers, kebabs.

Diomedes's story

Diomedes, who is 32, lives with his wife and 10-year-old son south of the city of Barranquilla. He runs a business selling food, snacks, soft drinks and basic household goods to families, the majority of whom live close to his shop. Diomedes set up his business over two years ago in rented premises because, having an enterprising spirit, he felt drawn to self-employment where he would no longer be an employee and could be his own boss. He has achieved this by gradually acquiring tools and fixed assets which he now owns. His shop is open for business daily and is staffed by himself and his wife, both of whom share the ambition of buying the premises which they are currently renting. His greatest challenge is not having sufficient working capital to achieve his goals. These are to invest in stock with higher turnover, to buy in greater quantities, so as to reduce the frequency of his purchases and qualify for bulk cash purchase discounts. As a result, he will be able to generate higher profits. Having increased his buffer stock and delivered greater choice to his customers, and feels that his business has grown thanks to the funding he has received from the Mario Santo Domingo Foundation. He has this message for the organisation: "Thank you for your support which has been a great help in allowing me to remain in business". He is currently applying for a Kiva loan because he wants to take full advantage of his shop's very busy street-corner location by setting up a fast-food outlet to generate new income. With the Kiva loan Diomedes will make purchases of sauces, sausages, meat and supplies for the sale of hotdogs, hamburgers and kebabs and he will gradually add other items for which there is a demand amongst his customers. His investment will be successful because he will capitalise on the current market situation and the potential daily footfall. Furthermore, he is making the investment during a carnival period, a time when such products sell in greater quantities.

Translated from Spanish by Kiva volunteer Janice Crossfield

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