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Margarita Maria
Margarita has been selling food for approximately 18 years, and thanks to her activity she has been able to economically contribute to the expenses of her household, which she shares with her husband and her daughter. Margarita is very grateful for her activity, as it has helped her improving her standard of living, on top of giving her the necessary means to pay for the university education of her daughter, whom she hopes to continue supporting until the girl completes her studies. During the harsh winter Margarita has noticed that her customers come less to her stall as it lacks protection from the rain, as the largest part of her shop is directly on the street. For this reason, and in order to improve this situation, Margarita is requesting a loan to buy a parasol and to supply her shop with ingredients she needs to prepare her dishes.
Thanks to the parasol her shop will be protected from the rain, and therefore her customers will not stay away that much: she has many customers, but the rain affects her sales, making her earn less. Margarita also hopes that a better income will help her family reach a better standard of living as well as allow her daughter to continue attending university.
View original language description ↓
Margarita trabaja desde hace aproximadamente 18 años en su negocio de venta de comidas, y gracias a este ha podido contribuir económicamente para el sostenimiento de los gastos de su hogar donde convive junto con su esposo y su hija. Margarita se encuentra muy agradecida con su negocio, pues este le ha permitido mejorarles la calidad de vida en su hogar y además de esto le ha permitido brindarle a su hija el acceso a una carrera universitaria, la cual espera seguir acompañando económicamente hasta que culmine sus estudios. Debido a la fuerte temporada del invierno, Margarita ha visto como sus clientes se ausentan debido a la falta de una protección para la lluvia, pues la mayor parte de su negocio está sobre la calle; es por esto que con el ánimo de mejorar esta situación Margarita busca que un préstamo le brinde la posibilidad de acceder a la compra de un parasol y surtir su negocio con insumos que requiere para la preparación de sus comidas.
De esta manera su negocio podrá estar cubierto de la lluvia y así sus clientes no se ausentarán tanto, pues actualmente cuenta con una gran cantidad de clientes, pero la lluvia hace que sus ventas no sean igual de grandes. Además, Margarita espera que con mayores ingresos su familia tenga la oportunidad de tener una mejor calidad de vida y su hija pueda seguir estudiando su carrera universitaria.

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
  • 163
    View loans »
    Colombia Loans Fundraising
  • $12,834,025
    Funds lent in using Kiva
  • 1,768.0
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,700 helped Margarita Maria to buy a parasol and ingredients for her shop.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 23, 2012
Listed
Jun 1, 2012
Currency Exchange Loss:
Covered
Expired:
Jul 1, 2012