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Blanca Elvia
Ms. Blanca has a chicken restaurant, which she started when she became a widow because she needed to generate her own income to sustain herself. With the goal of creating a job for a family member and improving her sales, Blanca needs to purchase a pot for frying. This will make it possible for her to increase her production and thereby improve her own quality of life as well as that of her new employee.
View original language description ↓
La señora Blanca tiene un restaurante de asadero de pollos, esta actividad inició luego de haber quedado viuda, por lo que requería de generar sus propios ingresos para su sostenimiento. Con el ánimo de generarle empleo a un familiar y mejorar sus ventas, la señora Blanca necesita de la compra de una olla fritadora con la cual pueda tener una mayor producción y así mejorar su calidad de vida y la del nuevo trabajador.

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
  • 342
    View loans »
    Colombia Loans Fundraising
  • $14,070,600
    Funds lent in using Kiva
  • 1,936.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Blanca Elvia to buy a pot for frying.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 15, 2011
Listed
Dec 23, 2011
Currency Exchange Loss:
Covered
Ended:
Dec 19, 2013