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Gloria Amparo
Gloria has worked in the field of recycling for approximately 10 years, and thanks to this work, she generates the income to pay her household expenses. Gloria is a single mother and the head of a family of 4 children, since the father of her children abandoned her 7 years ago and has not contributed economically to the income of her household. Due to this situation, Gloria needs to generate her own income so that she can satisfy the needs of her household. Gloria works collecting and buying recycled items, which she later sells in bulk to a recycling company at a good price. Since a person is currently selling her a large quantity of recycled items at a very low price, Gloria hopes that a loan will give her the chance to buy recycled items so that she can sell them in bulk and generate profits.

Gloria hopes that her business will continue to grow and she will be able to have a warehouse with greater capacity to store the recycled items. In addition, Gloria hopes that if her business grows, it will generate more income for her so she can improve the quality of life for her children.
View original language description ↓
Gloria trabaja la actividad de reciclaje desde hace aproximadamente 10 años, y gracias a esto genera los ingresos para el sostenimiento de los gastos de su hogar. Gloria es una madre soltera cabeza de familia de 4 hijos, pues el padre de sus hijos la abandonó hace 7 años y no ha contribuido económicamente para los ingresos de su hogar. Debido a esto, Gloria se ve en la necesidad de generar sus propios ingresos y poder satisfacer las necesidades de su hogar. Gloria trabaja comprando y recogiendo reciclaje el cual posteriormente lo vende por bultos a una empresa recicladora a un buen precio. Debido a que actualmente una persona le esta vendiendo una gran cantidad de reciclaje en un muy bajo precio, Gloria espera que un préstamo le brinde la posibilidad de acceder a la compra de reciclaje para venderlo posteriormente por bultos y generar utilidad.

Gloria espera que su negocio siga creciendo y pueda tener una bodega con mayor capacidad para guardar el reciclaje. Además, Gloria espera que si su negocio crece pueda generarle mayores ingresos para mejorarles la calidad de vida a sus hijos.

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
  • 468
    View loans »
    Colombia Loans Fundraising
  • $15,266,825
    Funds lent in using Kiva
  • 1,777.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,700 helped Gloria Amparo to buy recycled items to sell them in bulk and generate profits.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 8, 2012
Listed
Mar 1, 2012
Currency Exchange Loss:
Covered
Ended:
Nov 18, 2013