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Gloria Isabel
Gloria is a single mother and head of the household who has always wanted to provide her only son with a good quality of life and who always does her best to get ahead.

Gloria sells personal care products from a catalog such as lotions, hand creams, cosmetics, and other items and thanks to this she generates the necessary income to cover all the household expenses. She has been in business for some time and little by little her sales have increased which has permitted her to give her son access to a better education.

Because currently she has numerous orders to cater to and because she does not have a lot of capital, Gloria is searching for a loan to provide the possibility of buying personal care products so she can fulfill these orders from her customers. In this way she can continue expanding her business and offer her clientele good service.

Also, Gloria hopes that her son has the opportunity to have a better education and she wants to provide him with a stable economic future.
View original language description ↓
Gloria es una madre soltera cabeza de familia de su único hijo a quien siempre le ha querido brindar una buena calidad de vida y por quien siempre se esfuerza en su trabajo para sacarlo adelante. Gloria tiene una venta de productos de uso personal a través de catálogo como lo son lociones, cremas de manos, cosméticos, entre otros, y gracias a esto genera los ingresos necesarios para el sostenimiento de todos los gastos de su hogar. En su negocio ya lleva un buen tiempo y poco a poco ha venido creciendo en ventas, lo que le ha permitido brindarle a su hijo el acceso a una mejor educación. En la actualidad tiene grandes pedidos de sus clientes por atender, y debido a que no cuenta con un gran capital, Gloria busca que un préstamo le brinde la posibilidad de acceder a la compra de productos de uso personal con los cuales pueda responder a los grandes pedidos que le han hecho sus clientes.

De esta manera podrá seguir creciendo en su negocio y ofrecer a sus clientes un buen servicio. Además, Gloria espera que su hijo tenga la oportunidad de acceder a una mejor educación y brindarle un futuro económico estable.

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
  • 498
    View loans »
    Colombia Loans Fundraising
  • $14,967,400
    Funds lent in using Kiva
  • 1,775.0
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $850 helped Gloria Isabel to buy personal care products in order to meet the large orders that her clients have made.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 13, 2012
Listed
May 2, 2012
Currency Exchange Loss:
Covered
Expired:
Jun 1, 2012