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Aurora
Señora Aurora sells food to the coalminers in the Amagá municipality mines. She started this business to help her husband support their family of six children, as he has always been unemployed.

She started her catering business with just two customers and she now has about 20, so she can proviD. for the daily needs of her family.

Señora Aurora needs a loan to offer her customers a greater choice of meals and thus increase her revenue.
View original language description ↓
La señora Aurora se dedica a la venta D. alimentos para los mineros D. las minas D. Carbón del municipio Amagá, ella inició este negocio para ayudarle a su esposo a sostener su familia que está conformada por 6 hijos, ya que él siempre ha estado desempleado.

El negocio D. comidas lo inició con solo 2 clientes y actualmente ya tiene aproximadamente unos 20 que le permiten tener el sustento diario para su familia.

Ella necesita un crédito para tener diversidad D. comidas para sus clientes y así incrementar sus ingresos.

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

  • $11,100
    Average annual income
  • 487
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,775.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $300 helped Aurora to buy groceries for cooking meals.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 14, 2011
Listed
Jun 19, 2011
Currency Exchange Loss:
Covered
Ended:
Apr 15, 2012