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Angela Maria

Update on Angela Maria

Ángela is an enterprising woman who prepares meals to sell. She prepares fast food, fried snacks and traditional regional dishes. Her business has been making progress the last few months because sales have increased and her income has done so proportionately too. However, she is asking for loans at present to buy ingredients to prepare her meals and to do some improvements in her kitchen because at the end of the year the number of customers grows and sales increase and Ángela does not have the necessary capital to stock up at wholesale and to equip her kitchen. She is conscious that her quality of life will improve because she’ll provide better service; production capacity will also be greater and she’ll have more customers satisfied with the food she offers.
View original language description ↓
Angela es una mujer emprendedora que se dedica a la producción y comercialización de alimentos como: comida rápida, fritos y comida típica de la región. Desde hace unos meses su negocio ha progresado, pues las ventas han aumentado y proporcionalmente sus ingresos, sin embargo actualmente solicita un prestamos con el cual comprar insumos para la preparación de alimentos y hacer algunas adecuaciones locativas en la cocina, pues en época de fin de año las ventas y los clientes se incrementan y Angela no cuenta con el capital necesario para surtir al por mayor y adecuar la cocina, es conciente que así su calidad de vida mejorará pues prestará un mejor servicio, la capacidad de producción será mayor y tendrá mas clientes satisfechos con la comida que Angela les ofrece.

Previous Loan Details

Angela worked for 20 years as a security guard. For health reasons, she retired and decided to begin her own business selling snacks for social and school events. However, she needs to buy more ingredients and hire someone so that she can meet her orders on time, so that her customers will ... More from Angela Maria's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Colombia

  • $11,100
    Average annual income
  • 490
    View loans »
    Colombia Loans Fundraising
  • $15,259,900
    Funds lent in using Kiva
  • 1,878.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $750 helped Angela Maria to buy ingredients to prepare her meals and to do some kitchen improvements.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 14, 2011
Listed
Oct 25, 2011
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2013
This photo was used before for a previous loan for Angela Maria. It was first posted on Kiva on Mar, 2011. Learn More