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Elcy Del Socorro
Elcy is married with two children, and, because the economic conditions in her house had been getting worse and worse, decided to open her own ice-cream store in order to take advantage of the fact that there are no other ice-cream stores in her area. She opened her store initially with some savings. She has several years worth of experience working in this field. Because of the small amount of capital with which it was funded, she only purchased the resources that were absolutely necessary and located the business within her home. In spite of the small amount of capital with which it was funded, thanks to the good service she offers, her business has succeeded and now has many good customers that allow her to generate an income with which her family has better economic conditions. Looking to offer better service to her customers and thereby increase her sales, Elcy is looking for a loan in order to renovate her place of business and separate the door of the business from the door of her house.

Elcy hopes that the business will continue to provide her two children with access to a better education and also the opportunity to have a better quality of life in their home. Her dream is for her family to succeed and to give them a better economic future.
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Elcy se encuentra casada, tiene 2 hijos, y debido a que las condiciones económicas en su hogar se estaban deteriorando cada vez más, ha decidido montar su propio negocio de venta de helados aprovechando que en el sector no se encuentra un negocio de estos. Fue con unos ahorros que inició su negocio en el cual tiene experiencia de haber trabajado durante muchos años anteriormente, y debido al poco capital con el que fue montado, solo ha comprado los recursos necesarios y está ubicado en la sala de su casa. A pesar del poco capital con el que fue montado, gracias a la buena atención que ofrece, su negocio ha salido adelante y ahora cuenta con muy buenos clientes que le permiten generar ingresos con los que su familia tiene mejores condiciones económicas. Buscando poder ofrecer un mejor servicio a sus clientes y así poder aumentar sus ventas, Elcy busca un préstamo para realizar adecuaciones locativas en su negocio y poder separar la sala de su casa del negocio.

Elcy espera que su negocio le siga brindando la oportunidad de que sus 2 hijos accedan a una educación de mejor calidad y también la oportunidad de tener una mejor calidad de vida en el hogar. Su sueño es sacar su familia adelante y ofrecerles un futuro económico más próspero.

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
  • 303
    View loans »
    Colombia Loans Fundraising
  • $13,796,725
    Funds lent in using Kiva
  • 1,829.0
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,650 helped Elcy Del Socorro to renovate her place of business and to be able to separate the door of her house from that of her business.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 3, 2012
Listed
Sep 12, 2012
Currency Exchange Loss:
Covered
Expired:
Oct 12, 2012