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Fondo Financiero Privado (FIE S.A.)

FFP FIE S.A. Lends a Hand for a New Start
FFP FIE S.A. Lends a Hand for a New Start

Mrs. Zoila Figallo began her job distributing jello from door to door. At first things were not going very well for her so she decided to get a stand (“kiosko”) where she could sell her jello, along with a variety of candy, chocolate and cookies. She also rented a phone line that customers could use to make phone calls for a small fee (a very traditional service found in stands).

Mrs. Figallo had her mother help her to run the stand, but unfortunately her mother let everyone use the phone with no charge at all. She decided to take over her stand and start all over again.

That is when she heard about FFP FIE S.A. and obtained a loan for 2,000 bolivianos first and then later a second loan for 5,000 bolivianos to open a restaurant which serves ceviche (a traditional Peruvian dish), which her sister helps her to run. The profits she was making from her stand were able to cover the costs of opening the restaurant. Mrs. Figallo worked out a schedule where her stand was open from Monday through Friday, and the restaurant was open only on the weekends.

She thanks FFP FIE S.A. because before obtaining this loan, she was completely dependent on her husband to pay the rent and pay for her children’s education. Now she is able to pay for her wholesale products up front in cash, and typically makes 60 bolivianos a day in profits. Today, with her stand and her restaurant, she is self-sustained and able to pay her own rent and the cost of her children’s educations.

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