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Maria Consuelo
Maria is a person who has always wanted to provide the best quality of life for her household. She has a transportation business that she runs along with her husband; with this business they support the household and provide their 3 children with a good quality of life. She has had this business for many years, and thanks to these years of experience, she has managed to make herself known to the people in her municipality, so that over time her customer base has been growing. This has allowed her to increase her household income, and has given her better economic opportunities for progress. Because her carriage is now very deteriorated, the cost to repair it is the same as the cost of buying a new one. Therefore, Maria is seeking a loan to buy a new carriage to replace the one she has, so that she can continue to provide transportation services.

In this way, she can improve her work conditions, allowing her family to have a better quality of life and better economic opportunities for progress. Her main dream is to eventually buy her own house, to provide a stable home for her children.
View original language description ↓
Maria es una persona que siempre ha querido brindar una buena calidad de vida en su hogar, por esto tiene su negocio de servicio de transporte con el cual contribuye económicamente junto con su esposo al sostenimiento de los gastos de su hogar y así pueden brindar a sus 3 hijos una buena calidad de vida. Desde hace muchos años que tiene este negocio y gracias al tiempo de experiencia ha logrado hacerse conocida entre las personas de su municipio y esto hace que sus clientes aumenten cada vez más, lo que le permite tener mejores ingresos para su hogar y así mejores oportunidades económicas para progresar. Debido a que su coche se encuentra muy deteriorado y la opción de repararlo o hacerle mantenimiento saldría igual de costoso que comprar uno nuevo, Maria busca un préstamo para comprar un coche nuevo para reemplazar el existente y seguir prestando el servicio de transporte.

De esta manera mejorarán sus condiciones laborales permitiéndole a su familia tener mejor calidad de vida y mejores oportunidades económicas para progresar. Su mayor sueño es llegar a tener su casa propia con la cual pueda brindar un hogar estable a sus hijos.

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
  • 279
    View loans »
    Colombia Loans Fundraising
  • $13,618,075
    Funds lent in using Kiva
  • 1,776.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Maria Consuelo to buy a new carriage for her transportation business.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 27, 2012
Listed
Aug 1, 2012
Currency Exchange Loss:
Covered
Ended:
Apr 18, 2013