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Gloria Elena
Gloria is a person who has always been noted for being very hardworking and thanks to this she’s managed to raise her two children despite having been widowed some time ago. Her source of income is a business selling fast-food that she started in a location that had lots of shortcomings. Nevertheless, she’s managed to get ahead and with much effort succeeded in getting a space in which to set up a few tables thus offering better customer service. Since she’s been located here sales have increased considerably and this has led to improved household income; her two children are able to access better quality of life and better opportunities for economic progress.

However, now she’s having problems with the health department who are requiring a few improvements to meet health requirements for her business which is why she’s looking for a loan to set up a stainless steel table and to buy a refrigerator for her business. In this way she will be able to overcome the problem of business capital and her business will move forward providing better customer service. Also, she will continue generating higher income for her home each time so that her children will have a better quality of life and better opportunities for economic progress.
View original language description ↓
Gloria es una persona que siempre se ha caracterizado por ser muy trabajadora, y gracias a esta condición ha logrado sacar adelante a sus 2 hijos a pesar de haber quedado viuda desde hace un tiempo. Como fuente de ingresos tiene un negocio de comidas rápidas el cual comenzó en un lugar con muchas incomodidades, sin embargo ha logrado salir adelante y con mucho esfuerzo logró conseguir su local para ubicar unas mesas y ofrecer así un mejor servicio para sus clientes. Desde que esta ubicada en el local sus ventas han aumentado considerablemente, y esto le ha permitido tener mejores ingresos para que en su hogar sus 2 hijos puedan acceder a una mejor calidad de vida y mejores oportunidades económicas para progresar. Sin embargo, ahora ha venido teniendo dificultades con las entidades sanitarias que le exigen la implementación de algunas mejoras para poder superar las condiciones higiénicas que se requieren en su negocio; es por esto que busca un préstamo para adecuar una mesa de acero inoxidable y la compra de un nuevo refrigerador para su negocio.

De esta manera logrará superar la dificultad de capital y su negocio saldrá adelante ofreciendo un mejor servicio para sus clientes. Además, seguirá generando cada vez mejores ingresos para su hogar de modo que sus hijos tendrán una mejor calidad de vida y mejores 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
  • 565
    View loans »
    Colombia Loans Fundraising
  • $14,650,775
    Funds lent in using Kiva
  • 1,776.5
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,150 helped Gloria Elena to set up a stainless steel table and to buy a new refrigerator.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 22, 2012
Listed
Jul 10, 2012
Currency Exchange Loss:
Covered
Expired:
Aug 9, 2012