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Gloria Cecilia
Gloria Cecilia has been running her business selling, repairing and maintaining watches for 14 years. This has allowed her to contribute financially to her household so that her husband and her two children, who are 10 and 19 years old, can enjoy a better quality of life. Her business used to be located in rented premises. When the landlords asked for the premises back she had no other alternative but to set up her business in the street and re-establish herself with her customers so that she could make progress. Gloria Cecilia's family have always suffered financial difficulties but, thanks to the efforts she puts into her business, she has often been able to mitigate the problems and enjoy good financial stability. She works hard every day so that her family can enjoy a better quality of life. As some of the parts she uses in mending watches have been running out, Gloria is looking for a loan that will allow her to buy more watch parts and accessories so that she can continue providing a watch repair and maintenance service. This will mean her customers will be able to continue receiving a good service and her sales will increase considerably. As a result, she will make better income for her household and her family will enjoy better financial stability. Her biggest dream is to re-locate her business into proper premises so that she can offer her products for sale more comfortably.
View original language description ↓
Desde hace 14 años tiene su negocio de venta de relojes, reparación y mantenimiento de los mismos, y gracias a este ha logrado contribuir económicamente en su hogar para que su esposo y sus 2 hijos de 10 y 19 años de edad puedan tener una mejor calidad de vida. Anteriormente tenía su negocio ubicado en un local arrendado, pero cuando le pidieron el local no le quedó otra alternativa que dejar su negocio en la calle y así hacerse nuevamente con sus clientes para que su negocio saliera adelante. En su familia siempre han tenido dificultades económicas, pero gracias al esfuerzo que hace en su negocio ha podido en algunas oportunidades mitigar las dificultades y poder contar con una buena estabilidad económica, y es por esto que se esfuerza diariamente para que su familia tenga una mejor calidad de vida. Debido a que se le han ido agotando algunos repuestos de relojes que utiliza para el mantenimiento de los mismos, Gloria busca que un préstamo le permita comprar repuestos y artículos de relojería que se han ido agotando para seguir prestando el servicio de reparación y mantenimiento de relojes.

De esta manera sus clientes podrán seguir recibiendo un buen servicio en su negocio y así sus ventas aumentarán considerablemente, permitiéndole tener mejores ingresos para su hogar y así su familia puede contar con una mejor estabilidad económica. Su mayor sueño es volver a ubicar su negocio dentro de un local y así ofrecer sus productos desde una mayor comodidad.

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
  • 180
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,776.5
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,150 helped Gloria Cecilia to buy watch parts and accessories as she is running low.
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 26, 2012
Listed
Jul 10, 2012
Currency Exchange Loss:
Covered
Expired:
Aug 9, 2012