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Update on Angélica Tene Pintado

Update on Angélica Tene Pintado

Angélica María Tene Pintado received a loan of just over £1,400 last autumn. She has made five repayments so far without difficulties. Angelica requested the loan to continue with her business of raising poultry. However, once she received the money she decided to change the proposed investment. With approval from our microfinance partner, Fundacion FACES, she started a business making and selling knitted infant socks and hats because she thought it would be more profitable. The items are for infants aged up to 18 months generally. She used the majority of the loan to buy different coloured wool in bulk, knitting needles and other equipment she needed to start her business. Angélica makes sure that the material she uses will not cause any irritation to sensitive skin. It has been about three months she she established the business and it is going well. She sells directly as well as supplying baby clothing shops. It takes her about three hours to knit one pair of socks and slightly less for a hat, which she does while attending to the shop. She attends to the shop for about five hours each day and then in the evenings go to University to continue with her studies - she is completing a course in business administration. Her mother and sister also help her to knit the socks and attend to the shop when she is not there. They sell the socks for $4-5 each depending upon the size and the hats for $6 each. It costs her approximately $1.50 in materials to make each pair of socks or hat. Angelica has also started promoting her business through the internet and Facebook, and quite a few customers are even placing orders online.

View entrepreneur's loan details