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Maria De Las Mercedes
Maria is a person that has always been very hard working and this has made her able to overcome difficulties that she has faced in her life. She is married and has 2 children to which she has always wanted to provide a good quality education. Because of this she decided to start her own business, to financially help her husband to improve the quality of life in their home. In this way her business of making arepas ( a form of corn tortilla) was born, and even though it was not started with a lot of capital it has grown thanks to all the hard work that she puts in every day to offer her customers good quality products. Since she has started her business, the financial difficulties in her home are been slowly being overcome and they can enjoy a better quality of life. She still has financial problems, however, and continues to work very hard to get ahead. Trying to improve the quality of her production, Maria is requesting a loan to make improvements to her place of business and be able to make the arepas using gas instead of wood.

Her dream is to grow this business and continue providing a better quality of life to her husband and 2 children. And she also wishes that this business grow and provides employment to people that need it.
View original language description ↓
Maria es una persona que siempre se ha caracterizado por ser muy trabajadora, y esto le ha permitido superar grandes dificultades que se le han presentado en la vida. Ella se encuentra casada y tiene 2 hijos a quienes siempre les ha querido brindar el acceso a una educación de buena calidad, y es por esto que un día decidió montar su propio negocio para contribuir económicamente junto con su esposo para que la calidad de vida en su hogar mejorara considerablemente. Fue así como nació su fábrica de arepas que a pesar de no haber sido montada con un gran capital, si ha logrado salir adelante gracias al gran esfuerzo que hace diariamente Maria en ofrecer a sus clientes productos de buena calidad. Desde que montó su negocio, las dificultades económicas en su hogar han venido siendo superadas poco a poco y cada vez en su hogar pueden gozar de una mejor calidad de vida, sin embargo aún tienen problemas económicos y por esto trabaja fuertemente todos los días para salir adelante. Buscando mejorar la calidad de su producción, Maria busca un préstamo para realizar reformas locativas a su sitio de trabajo y poder fabricar las arepas a gas y no más a leña.

Su sueño es sacar este negocio adelante y que le permita seguir ofreciendo en su hogar una buena calidad de vida a su esposo y sus 2 hijos. Además sueña con que este negocio crezca y pueda generar empleo para las personas más necesitadas.

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
  • 363
    View loans »
    Colombia Loans Fundraising
  • $14,070,600
    Funds lent in using Kiva
  • 1,818.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,675 helped Maria De Las Mercedes to make structural changes to her work place and be able to make arepas burning gas and not wood.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 17, 2012
Listed
Aug 24, 2012
Currency Exchange Loss:
Covered
Ended:
May 17, 2013