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Erica Patricia
Erica is married and has a 5-year-old son to whom she wishes to offer access to a quality education in his life. Thanks to her long experience selling vegetables and knowledge of the business, she wants to open a general store in her house where she can generate income and help cover household expenses. Since her husband's income is insufficient to provide a good education for her son and a good quality of life, Erica is hoping that with this general store, their incomes will be able to cover greater costs.

For a long time, Erica has worked in this type of business -- work she had to abandon to care for her son. Nevertheless, she hopes that, with the general store located in her own house, she can care for her son while attending to business.

Her purpose for the loan is to buy the products she will need to stock the store. Erica hopes that the loan will allow her to purchase items normally found in a family basket and enable her to open her general store.

Erica wants the store to attract a large clientèle and enjoy very good sales, and as a result, provide a better quality of life in her home and greater economic opportunities.
View original language description ↓
Erica se encuentra casada y tiene un hijo de 5 años a quien le quiere brindar el acceso a una educación de calidad en su vida, es por esto que gracias a que durante mucho tiempo trabajó en una venta de legumbres y ya conoce la actividad quiere abrir una tienda general en su casa donde pueda generar ingresos con los cuales pueda contribuir al sostenimiento de los gastos de su hogar. Debido a que los ingresos que genera su esposo no son suficientes para poder ofrecer a su hijo una buena educación y una buena calidad de vida, Erica busca que con esta tienda general sus ingresos tengan la capacidad de sostener mayores gastos. Desde hace mucho tiempo Erica ha venido trabajando en este tipo de negocios, trabajo que tuvo que abandonar por el cuidado de su hijo, sin embargo, espera que con la tienda general ubicada en su propio hogar pueda estar al cuidado de su hijo mientras está al cuidado de su negocio. Con el ánimo de comprar los productos que requiere para montar su tienda, Erica busca que un préstamo le brinde la oportunidad de acceder a la compra de productos de la canasta familiar y poder así montar su tienda general.

Erica espera que su tienda capte una gran cantidad de clientes y así pueda tener muy buenas ventas, además de que esta le permita ofrecer una mejor calidad de vida en su hogar y mayores oportunidades económicas.

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
  • 177
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,759.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,425 helped Erica Patricia to buy the products that make up a family basket to stock her general store.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 15, 2012
Listed
Apr 8, 2012
Currency Exchange Loss:
Covered
Ended:
Jul 19, 2013