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Cruz Elena
Cruz Elena has worked most of her life in the food business. She used to work in a restaurant but gradually became independent and began selling her own food to customers. Cruz Elena is married and has two children for whom she has always wanted to provide the best she could. Since her husband's salary is not enough to cover household expenses, Cruz Elena decided to set up her own business making blood pudding, tamales, chicken pies and other products which she sells to family, friends and neighbors. She is able to generate enough income to contribute to household maintenance.

Currently Cruz Elena must make improvements in her kitchen since the health authorities made suggestions as to what she should do to upgrade her work site. Since she sells her goods on a credit basis, and customers often get behind in their payments, Cruz Elena does not have much capital right now. Therefore she is hopeful a loan will give her the opportunity to renovate her kitchen and be able to comply with the health authorities' requirements.

Cruz Elena hopes to increase sales because in the current conditions some markets are not open to her. Once she has renovated her kitchen she can sell her products to more customers. Cruz Elena's dream is to see her business grow significantly and that her children can enjoy a a stable economy in the future.
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Cruz Elena ha trabajado gran parte de su vida en el negocio de las comidas, pues antes atendía en un restaurante y poco a poco se ha ido independizando para preparar sus propias comidas y vendérselas a sus clientes. Cruz Elena se encuentra casada y es madre de 2 hijos, a los cuales siempre les ha querido brindar lo mejor posible. Debido a que el salario que gana su esposo no es suficiente para poder sostener todos los gastos del hogar, Cruz Elena decidió montar su propio negocio de comidas como morcilla, tamales, pasteles de pollo, entre otros, y los vende a sus familiares, amigos y vecinos; gracias a esto genera los ingresos suficientes para contribuir al sostenimiento de su hogar.

En la actualidad Cruz Elena debe realizar algunas mejoras a su cocina, pues las autoridades de sanidad le han hecho las sugerencias de mejorar algunas condiciones de su sitio de trabajo. Debido a que vende sus productos a crédito y sus clientes a menudo se retrazan en los pagos, Cruz Elena no cuenta en la actualidad con un gran capital, es por esto que tiene la esperanza en que un préstamo le brindará la oportunidad de acceder a realizar mejoras locativas a su cocina y poder cumplir con los requerimientos que le exigen las autoridades sanitarias.

Cruz Elena espera que con esto pueda aumentar sus ventas, ya que por la condición actual algunos mercados no le abren la puerta, así que una vez hechas las mejoras a su cocina podrá comercializar sus productos a un número mayor de clientes. Cruz Elena sueña con que su negocio pueda convertirse en una gran comercializadora y que sus hijos puedan gozar de tener una estabilidad económica en un futuro.

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
  • 265
    View loans »
    Colombia Loans Fundraising
  • $13,496,050
    Funds lent in using Kiva
  • 1,805.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Cruz Elena to renovate her kitchen to comply with health authorities' requirements.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 27, 2012
Listed
Feb 5, 2012
Currency Exchange Loss:
Covered
Ended:
Jan 18, 2014