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Maria Josefa
María Josefa is 69 years old. She is the mother of a 37 year old son. She lived in the town of Antioquia but because of the violence occurring in the East, she felt it was necessary to relocate to the city of Medellín approximately 15 years ago. In 1996, she began her own business selling fried foods such as pies and empenadas (stuffed pastries) as well as soft drinks. Later, the company responsible for managing the public space granted her a kiosk where she could work. Since then, and after having been widowed, María Josefa was able to get her son ahead in life. Her work day is from 7:00 am to 7:00 pm. She needs to purchase inventory for her business such as soft drinks, snacks, cookies, and sweets. With this loan, she will be able to increase sales and, in this way, improve her quality of life. Her dream is to enlarge her store and have it outfitted with a better floor and additional seating.
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La señora María Josefa a sus 69 años de edad es madre de un hijo de 37 años. La señora María Josefa vivía en un municipio de Antioquia y debido a la situación de violencia presentado en éste, se vio en la necesidad de trasladarse para la ciudad de Medellín hace aproximadamente 15 años. En el año 1996, la señora María Josefa inicia su propio negocio en la ciudad de Medellín de venta de fritos como pasteles y empanadas y además gaseosas, posteriormente las entidades encargadas de manejar el espacio publico le otorgaron a la señora María Josefa un kiosco para que pudiera trabajar, desde ese entonces la señora María Josefa pudo sacar adelante a su hijo luego de haber quedado viuda. La jornada laboral de la señora María Josefa es de 7:00 a.m. a 7:00 p.m. La señora María Josefa requiere de la compra de surtido para su negocio tal como gaseosas, snacks, galletas, y dulces. Con lo anterior la señora María Josefa podrá incrementar sus ventas y así poder mejorar su calidad de vida. El sueño de la señora María Josefa es agrandar su negocio y tenerlo acondicionado con un mejor piso y más sillas.

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
  • 466
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,951.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $425 helped Maria Josefa to purchase inventory for her business such as soft drinks, snacks, cookies, and sweets.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 18, 2011
Listed
Nov 29, 2011
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2013