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Elda
Elda is married and has eight children for whom she has always wanted to ensure a good quality of life. Although three of her children are adults and have the opportunity to get a job, five of her children still remain in her care. Elda and her husband always strive to ensure they have a good education. To do this, Elda has worked selling fruit and vegetables in the street market of her town for approximately 20 years, which allows her to contribute financially to her family income along with her husband’s salary, and to cover all her household expenses. Thanks to her job, Elda has been able to offer her family a good quality of life, and gradually help them all get ahead in life. This is why she truly appreciates her business, and always tries to ensure that it prospers.

As the current seasonal harvest of produce is at a very low price, Elda has requested a loan to allow her to buy fruit and vegetables to supply her business, taking advantage of these low prices and obtaining a better return for her business. In this way Elda’s business will be able to continue offering good products at good prices to her customers, and she will be able to give her children all they need at home.

One day Elda would like to have her own premises and not have to work in the street market. This would allow her customers to find her more easily, and her sales would increase considerably as a result.
View original language description ↓
Elda se encuentra casada y tiene 8 hijos a quienes siempre les ha querido ofrecer una buena calidad de vida, y a pesar de que 3 de sus hijos ya son mayores y tienen la oportunidad de acceder a un empleo, aún 5 de sus hijos se encuentran a su cargo y Elda y su esposo siempre buscan ofrecerles una buena educación. Para ello, Elda trabaja desde hace aproximadamente 20 años en la venta de frutas y verduras de manera ambulante en la plaza de mercado de su municipio, y de esta manera contribuye económicamente junto con el salario de su esposo a los ingresos del hogar y así sostener todos los gastos que allí se generan. Gracias a su trabajo, Elda ha tenido la oportunidad de ofrecer en su familia una buena calidad de vida y poco a poco brindar oportunidades de progreso para todos, por lo que ella valora mucho su negocio y siempre busca sacarlo adelante. Gracias a que en la temporada actual las cosechas de los productos son a muy bajo precio, Elda busca que un préstamo le permita comprar frutas y verduras para surtir su negocio aprovechando los precios bajos de la temporada y así poder tener una buena rentabilidad en su negocio.
De esta manera su negocio podrá seguir ofreciendo a sus clientes buenos productos a buenos precios y seguirá teniendo en su hogar la posibilidad de ofrecer a sus hijos todo lo necesario. Elda sueña con algún día poder tener su propio local y no seguir trabajando de manera ambulante, y así podrá hacer que sus clientes la localicen más fácil y sus ventas aumenten considerablemente.

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
  • 505
    View loans »
    Colombia Loans Fundraising
  • $14,967,675
    Funds lent in using Kiva
  • 1,770.0
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,150 helped Elda to buy fruit and vegetables to supply her business, taking advantage of the seasonal low prices and obtaining a better return for her business.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 13, 2012
Listed
Jun 1, 2012
Currency Exchange Loss:
Covered
Expired:
Jul 1, 2012