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Maria Cristina
Maria Cristina is a young 22 year old entrepreneur who decided to start her own business and make an effort to offer her parents the possibility of having a better quality of life and better economic opportunity towards progress. Some time ago she learned how to make arts and crafts and began making them out of her home and selling them to family and friends. Her business began growing little by little and a month ago she got the opportunity to move to a location where she can offer her products to her current clients and be exposed to a wider variety of people. Since her business started growing, the economic situation at home has also improved but not disappeared completely. At the very least they've gotten to enjoy an improved quality of life and little by little they are getting ahead. Due to the fact that she doesn't have large capital to grow her business, Maria Cristina is seeking a loan to purchase raw materials, such as: wood, glue, paints to make arts and crafts and to purchase a sign for her business.

Her dream is to have a larger store where she can serve a larger quantity of people and where she can also generate employment for the most at need. She also dreams of her parents being able to prosper and get past the difficulties that have been present in their lives.
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Maria Cristina es una joven emprendedora de 22 años de edad que decidió montar su propio negocio y esforzarse para brindar a sus padres la posibilidad de gozar de una mejor calidad de vida y mejores oportunidades económicas para progresar. Desde hace mucho tiempo aprendió la actividad de la fabricación de artesanías, y desde su casa comenzó a fabricar algunas piezas que vendía a sus familiares y amigos. Poco a poco su negocio fue creciendo hasta que hace un mes tuvo la oportunidad de trasladarse a un local donde ahora puede ofrecer sus productos a sus clientes y tiene la oportunidad de atender a una gran cantidad de personas. Desde que su negocio viene creciendo, la situación económica en su hogar ha mejorado, y aunque los problemas económicos no han dejado de aparecer, por lo menos han tenido la oportunidad de gozar de mejores condiciones de vida y poco a poco salir adelante. Debido a que no cuenta con un gran capital que le permita crecer con su negocio, Maria Cristina busca un préstamo para comprar materias primas como madera, pegamento, pinturas para la elaboración de las artesanías y comprar un aviso para su negocio.

Su sueño es llegar a tener un gran local donde pueda atender a una gran cantidad de personas y donde también pueda generar empleo para las personas más necesitadas. Además, sueña con que sus padres puedan salir adelante y superar las dificultades que se les han presentado en la vida.

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
  • 487
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,790.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $200 helped Maria Cristina to purchase raw material such as: wood, glue, paints to make arts and crafts and to purchase a sign for her business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 11, 2012
Listed
Aug 13, 2012
Currency Exchange Loss:
Covered
Ended:
May 17, 2013