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Rosalba
Rosalba has worked for more than 20 years in coffee shops and restaurants. Thanks to the experience gained, today she has a business which known for offering its customers very good service and great quality products.

Approximately two years ago she rented a coffee shop in which her main product is buñuelos [cheese fritters]. This way she makes an income with which she contributes economically to support her home expenses, where she lives with her husband and her son. Rosalba has had many difficulties in her life, but she has always had her will to get ahead and continue to progress in life along with her family.

Due to the winter season, the cost of cheese is very high and therefore her earning margin decreases considerably. Because of this she is now looking for a loan to buy cheese and thus build up her provisions so that when the winter season comes she won't have to pay high costs for the cheese. This way her business will be able to continue to make a good profit margin. Therefore she will continue to generate the income that she requires in her home so that her family can have a good quality of life and better economic opportunities to move forward.
View original language description ↓
Rosalba trabaja desde hace más de 20 años en cafeterías y restaurantes, y gracias a la experiencia adquirida hoy tiene un negocio en el cual se caracteriza por ofrecer a sus clientes un muy buen servicio y una muy buena calidad en sus productos. Hace aproximadamente 2 años tomó en arriendo una cafetería en la cual su principal producto son los buñuelos, y de esta manera genera ingresos con los cuales contribuye económicamente para el sostenimiento de los gastos de su hogar, donde convive con su esposo y su hijo. Rosalba ha tenido muchas dificultades en su vida, pero siempre la ha acompañado sus ganas de salir adelante para continuar progresando junto a su familia. Debido a la temporada invernal, el costo del queso es muy elevado y así su margen de ganancia disminuye considerablemente, y es por esto que ahora busca un préstamo para comprar queso y así aprovisionar sus insumos para cuando la temporada de invierno llegue no tenga que pagar altos costos por el queso.
De esta manera su negocio podrá seguir teniendo un buen margen de ganancias y así podrá seguir generando los ingresos que requiere en su hogar, de modo que su familia podrá tener una buena calidad de vida y mayores oportunidades económicas para progresar.

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
  • 304
    View loans »
    Colombia Loans Fundraising
  • $13,867,525
    Funds lent in using Kiva
  • 1,768.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Rosalba to buy cheese and thus build up her provisions so when the winter season comes she won't have to pay high costs for the cheese.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 25, 2012
Listed
Jun 1, 2012
Currency Exchange Loss:
Covered
Ended:
Dec 19, 2013