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Maria Mercedes
María is a person who has had to go through many adversities in life. However, she’s always had the strength to overcome them and get ahead with her children.

About two years ago María’s husband died and she was left in charge of their 7 children so she desperately needed to find a source of income for her home. This is how she started to raise chickens, a business that initially was generating income with which she could support her home.

Later, the business started having problems and it no longer generated enough income so she also started to make “arepas “ [a flat, unleavened patty made of cornmeal which can be grilled, baked, or fried] and with the two businesses she was again able to generate the income needed for her home.

Hoping to move both businesses forward, María seeks a loan that will make it possible for her to buy chicken feed, to repair the chicken coops and to buy the ingredients she needs to make the arepas. María hopes that with the loan she will be able to meet her needs in the short run and be able to move forward with her business. Also, she hopes that her business will grow and generate higher income with which she can offer her children a better quality of life and greater opportunities for progress.
View original language description ↓
Maria es una persona que ha tenido que atravesar muchas adversidades en su vida, sin embargo siempre ha tenido la fortaleza para superarlas y salir adelante junto con sus hijos. Hace aproximadamente 2 años el esposo de Maria murió, y esta quedó a cargo de sus 7 hijos, por lo que inició desesperadamente la búsqueda de una fuente de ingresos para su hogar. Fue así como inició la cría y venta de pollos, negocio que en un principio le estaba generando ganancias con las cuales podía sostener los gastos de su hogar. Posteriormente, el negocio entró en dificultades y este ya no le proporcionaba todos los ingresos que eran necesarios, por lo que empezó paralelamente a fabricar arepas, y con estos dos negocio logró generar los ingresos que necesitaba en su hogar. Con el ánimo de sacar estos negocios adelante, Maria busca que un préstamo le brinde la posibilidad de acceder a la compra de cuido para los pollos, adecuar el corral de sus pollos y comprar insumos que requiere para la elaboración de las arepas.

Maria tiene la esperanza en que el préstamo le permita suplir sus necesidades en el corto plazo y esto le ayude a salir adelante con su negocio. Además, espera que su negocio crezca y genere mayores ingresos con los cuales les pueda ofrecer a sus hijos una mejor calidad de vida y mayores oportunidades de progreso.

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
  • 160
    View loans »
    Colombia Loans Fundraising
  • $12,812,550
    Funds lent in using Kiva
  • 1,770.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Maria Mercedes to buy chicken feed, repair the coops and to buy ingredients to make arepas.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 14, 2012
Listed
Apr 2, 2012
Currency Exchange Loss:
Covered
Ended:
Jun 20, 2013