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Edilia Del Socorro
Edilia has a store in Medellín where she sells household products. The doors of her business are open from 6am to 10pm. She inherited this business from her father and it is her only source of income. Despite having to work long hours, Edilia knows that it is necessary in order to get ahead in her business. This allows her to generate revenue so that she can cover her personal expenses.


Edilia needs a loan to make a few improvements to her store and purchase a variety of merchandise in bulk so that she can improve her earnings. In the future, she hopes to expand her store in order to improve her quality of life.

View original language description ↓
Desde las 6 de la mañana hasta las 10 de la noche, Edilia abre las puertas de su negocio, una tienda de productos propios de la canasta familiar ubicada en Medellín, el negocio aunque fue heredado de su padre es la única fuente de sustento de esta emprendedora quien sabe que aunque son largas horas las que debe trabajar para sacar adelante su negocio, es la manera como obtiene los ingresos para cubrir sus gastos personales.

Edilia necesita de un préstamo para realizar algunas adecuaciones locativas y comprar mayor variedad de surtido para mejorar sus ingresos. En el futuro espera crecer su tienda para mejorar su calidad de vida.

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
  • 183
    View loans »
    Colombia Loans Fundraising
  • $12,852,400
    Funds lent in using Kiva
  • 1,775.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Edilia Del Socorro to make a few improvements to her store and to purchase a wide variety of merchandise in bulk.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 14, 2011
Listed
Jun 18, 2011
Currency Exchange Loss:
Covered
Ended:
Aug 15, 2012