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Olga Maria
Olga and her family have had to overcome many great adversities in their lives, but she has always known how to persevere and continue getting ahead every day. Her husband used to be the one who earned a living for the household, and Olga took care of the two children, but one day her husband had a work accident and left him an invalid. Since then, Olga has had to assume responsibility for the household economy. With the the money her husband received from the accident they set up a general store where they sell family shopping basket items and can earn enough to survive. Because the business is well established and customer service is very good, Olga is seeking a loan to buy a motorcycle and begin offering delivery services, which her eldest son will carry out.

In this way her store will grow larger and continue to provide a good income for the household. Her greatest goal is to provide a good education and college degree for her two children, while also providing economic stability to continue progressing despite the adversities.
View original language description ↓
Olga ha tenido que atravesar junto con su familia grandes adversidades que le ha presentado la vida, sin embargo siempre ha tenido la fortaleza para salir adelante y continuar progresando cada día. Anteriormente su esposo era quien generaba los ingresos del hogar, y Olga se encargaba del cuidado de sus 2 hijos, pero un día su esposo sufrió un accidente en el trabajo que lo dejó inválido y desde entonces a Olga le tocó asumir las responsabilidades de generar los ingresos del hogar. Fue así como con un dinero que le dieron a su esposo por el accidente como montaron una tienda general donde ofrecen productos de la canasta familiar y así pueden tener unos ingresos con los que pueden sobrevivir. Gracias a que su negocio esta muy bien montado, y allí ofrecen una muy buena atención, Olga busca un préstamo para comprar una moto y comenzar a ofrecer el servicio a domicilio, que lo realizará su hijo mayor.

De esta manera su tienda irá creciendo cada vez más y así podrá seguir teniendo unos buenos ingresos en su hogar. Su mayor anhelo es sacar sus 2 hijos adelante brindándoles una educación de buena calidad y una educación universitaria, además de una estabilidad económica que les permita seguir progresando a pesar de las adversidades.

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
  • 166
    View loans »
    Colombia Loans Fundraising
  • $12,834,025
    Funds lent in using Kiva
  • 1,843.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Olga Maria to buy a motorcycle and begin offering delivery service.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 17, 2012
Listed
Jul 1, 2012
Currency Exchange Loss:
Covered
Ended:
Jun 20, 2013