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Dora Luz
Dora Luz is a person who has always devoted herself to providing greater well-being for her family. This is why she works hard selling merchandise by catalogue, and selling empanadas (stuffed pastries) and fried foods. However, these activities do not allow her to generate good income, as her level of sales is very low, due to the fact that she has few customers in her area.

For some time, Dora Luz has been getting suggestions from her customers that she set up a fast-food business, as in this part of the city, there isn't a business like this, and it is much desired by people in the area.

Dora Luz plans to set up this business, so she can increase her income, and in this way improve the quality of life of her husband and son. However, she doesn't have sufficient capital to start the business.

This is why Dora Luz is hoping to take out a loan, to allow her to buy a fast-food cart and the necessary ingredients for the first days. This will enable her to start selling fast-food.

Dora Luz hopes that with this new livelihood, she can generate more income than she does currently, so that she can fulfill her dream of her son having the best possible education, and financial stability in the future, so that he doesn't have to suffer as many setbacks as his parents did.
View original language description ↓
Dora Luz es una persona que siempre se ha dedicado a brindarle el mayor bienestar a su familia, por esto trabaja fuertemente en la venta de mercancía por catálogo y la venta de empanadas y fritos, sin embargo, estas actividades no le permite generar buenos ingresos, pues su nivel de ventas es muy bajo debido a la poca clientela que tiene en el sector. Dora Luz desde hace un tiempo ha venido recibiendo sugerencias por parte de sus clientes de que monte un negocio de comidas rápidas, pues en el sector no existe un negocio así, y es muy apetecido por los habitantes. Dora Luz aspira a montar este negocio para que incrementen sus ingresos, y poder así mejorar la calidad de vida de su esposo y su hijo, sin embargo, no tiene el capital suficiente para iniciar el negocio. Es por esto que Dora Luz aspira a tener un préstamo que le permita comprar el carro de comidas rápidas y comprar los insumos necesarios para los primeros días, y así poder iniciar la actividad de la venta de comidas rápidas. Dora Luz aspira que con esta nueva actividad pueda generar mas ingresos que los que genera actualmente y poder así cumplir su sueño de que su hijo tenga la mejor educación posible y que en un futuro su hijo tenga una estabilidad económica y no tenga que sufrir tantos percances como sus padres.

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
  • 246
    View loans »
    Colombia Loans Fundraising
  • $13,361,775
    Funds lent in using Kiva
  • 1,838.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $500 helped Dora Luz to buy a fast-food cart, and ingredients for the first days of operation.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 12, 2012
Listed
Jan 20, 2012
Currency Exchange Loss:
Covered
Ended:
Nov 16, 2012