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Bibiana Andrea
Bibiana is a great entrepreneur who saw in her ability to make crafts a business opportunity to contribute economically to her home. Bibiana is married and has a 12 year old son who is her motivation to work hard in her business.

About two years ago, Bibiana started making wood items at home that she’d sell to her friends. Seeing that her items were warmly received by them she decided to start producing them in larger amounts and to sell them to more people to generate income. This is how she then moved into a friend’s carpentry shop where he let her us a small space there to make her items and this is how she gradually grew to have good business sales. Currently, Bibiana has a business where she can sell enough to contribute economically to her home’s expenses and to provide a better quality of life for her son. Now, Bibiana plans to move production to her yard at home so is looking for a loan to buy work tools to make her products.

In this way Bibiana will have her own work tools to manufacture her products and will be able to do so in the comfort of her own home while caring for her son. In addition, she will continue to grow this way and in future be able to have a great business that will give her the opportunity of providing her family with a better quality of life and better opportunities for making progress.
View original language description ↓
Bibiana es una gran emprendedora que vio en su capacidad para crear artesanías una oportunidad de negocio y así contribuir económicamente en su hogar. Bibiana se encuentra casada y tiene un hijo de 12 años quien es su motivación para trabajar fuertemente en su negocio. Hace aproximadamente 2 años, Bibiana comenzó fabricando desde su casa algunos artículos en madera y se los ofreció a sus amigos; al ver que sus productos habían tenido una gran acogida por parte de ellos, decidió comenzar a producir en mayor cantidad y ofrecer a más personas para así generar ingresos. Fue así entonces como se pasó para una carpintería de un amigo donde este le brindó un pequeño espacio para elaborar sus productos y así fue poco a poco creciendo hasta tener muy buenas ventas en su negocio. Actualmente, Bibiana tiene un buen negocio donde puede vender lo necesario para contribuir económicamente para los gastos de su hogar y poder brindarle a su hijo una mejor calidad de vida. Ahora, Bibiana espera trasladar la producción de su negocio para la terraza de su casa, por lo que busca que un préstamo le brinde la oportunidad de acceder a la compra de herramientas de trabajo para elaborar sus productos.

De esta manera Bibiana tendrá sus propias herramientas de trabajo para fabricar sus productos y podrá estar en la comodidad de su hogar estando al cuidado de su hijo. Además, así seguirá creciendo y podrá en un futuro tener un gran negocio que le brinde la oportunidad de brindar a su familia una mejor calidad de vida y mejores 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

  • $11,100
    Average annual income
  • 488
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,772.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Bibiana Andrea to buy work tools.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 13, 2012
Listed
May 1, 2012
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2012