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Luz Ofelia
Luz is a single mother, head of household; she has two children who are 16 and 18 years of age that she’s always wanted to provide with a good quality of life and access to quality education. Because of this she works hard at her food selling business that she’s had for five years and that has allowed her to have income with which to cover household expenses and to have a good quality of life with her family. Thanks to the good quality of her products she’s captured a good number of customers and hopes to continue growing with her business.

Luz is looking for a loan that will allow her to buy an overhang to protect her business from the rain as well as to buy tables and chairs to better tend to her customers thus making her business more attractive.

In this way her sales will increase considerably because she won’t have to stop working in winter. In addition, Luz hopes that with higher income her family will have a better quality of life and she will be able to give her children the opportunity to study a university career. Her dream is to have her own eatery where she can offer employment and have better economic stability.
View original language description ↓
Luz es madre soltera cabeza de familia de sus 2 hijos de 16 y 18 años de edad, a quienes siempre les ha querido brindar una buena calidad de vida y el acceso a una educación de calidad, es por esto que trabaja fuertemente en su negocio de venta de comida el cual tiene hace 5 años y que le ha permitido tener unos ingresos con los cuales sostener los gastos de su hogar y así tener una buena calidad de vida en su familia. Gracias a la buena calidad de sus productos ha logrado captar una gran cantidad de clientes y espera seguir creciendo con su negocio.

Luz busca que un préstamo le permita comprar una teja para cubrir su negocio de la lluvia, además de comprar mesas y sillas para atender mejor a sus clientes y así hacer más atractivo su negocio.

De esta manera sus ventas aumentarán considerablemente, pues ya el invierno no le impedirá seguir trabajando. Además, Luz espera que con mayores ingresos su familia tenga una mejor calidad de vida y así pueda darles a sus hijos la oportunidad de estudiar una carrera universitaria. Su sueño es tener su propio local de comidas donde pueda generar empleo y tener una mejor estabilidad económica.

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
  • 496
    View loans »
    Colombia Loans Fundraising
  • $14,967,400
    Funds lent in using Kiva
  • 1,757.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Luz Ofelia to buy an overhang, tables and chairs.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 4, 2012
Listed
Jun 1, 2012
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2013