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Gloria Elena
As a girl, Gloria Elena S. T. discovered she had great talent when it comes to beauty. In addition to pursuing this activity as a profession over the years, she learned that she wanted to be independent. This has given her the opportunity to work from home and use her earnings to contribute toward the household expenses accumulated by her husband and their two daughters.


Gloria has her own beauty salon set up in an ample location. Being able to offer different services to satisfy her customers has been Gloria’s dream and is now working hard to achieve it. She needs a loan to acquire equipment such as a curling iron, brushes, hair dryers, clippers, and other items for improving her business.

View original language description ↓
Desde niña Gloria Elena S. T. descubrió que tenía grandes habilidades para lo relacionado con la belleza, con el paso de los años supo que además de dedicarse a esta actividad deseaba ser independiente, pues además de tener la posibilidad de trabajar desde su casa así tendría la posibilidad de aportar con sus ganancias para cubrir los gastos del hogar conformado por su esposo y sus 2 hijas.

Tener su propia peluquería en un local amplio y con la capacidad de ofrecer diversos servicios para satisfacer a sus clientes es el sueño de Gloria, que por ahora trabaja fuertemente para lograrlo y que además necesita de un préstamo para adquirir implementos como plancha para el cabello, cepillos, secador, máquina para motilar, entre otros artículos necesarios para mejorar su negocio.


Additional Information

Important Information

This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.

About Colombia

  • $6,070
    Average annual income
  • 262
    View loans »
    Colombia Loans Fundraising
  • $13,600,025
    Funds lent in using Kiva
  • 1,875.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Gloria Elena purchase a curling iron, brushes, hair dryers, clippers, and other items.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 14, 2011
Listed
Jan 21, 2011
Currency Exchange Loss:
Covered
Ended:
May 16, 2012