Microfinance - Engelberth Tinoco De Arco : Colombia

$325 of $625 raised.

Started raising funds on Feb 20, 2010

Engelberth Tinoco de Arco, 27, lives in El Bosque, a neighborhood in southeastern Barranquilla. He owns a store there called La Monumental del Bosque where he sells all kinds of everyday products: rice, sugar, coffee, bread, salt, cheese, milk, soft drinks and bottled juices. He also sells cell phone services. It's a family business, one that Engelberth's family has operated for many years. His parents opened the store before he was born, 27 years ago, and he has been working there since he was seven.Engelberth has borrowed from Fundacion Mario Santo Domingo twice before and the loans have allowed him to increase the range of goods he sells and, in turn, increased his income and helped him to improve his quality of life. He is now applying for a $1,200,000 loan that he will use to buy wholesale supplies of meat and cheese in Magdalena. The products are much in demand in his area and the new supplies will help him satisfy the demand. He can get better prices in Magdalena so he will be able to sell the goods for less than nearby supermarkets, his biggest competitors. For the future, he hopes to provide his 3 year old son with an excellent education. His goal for himself is to increase his...
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