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María learned her activity working in restaurants for about 20 years and some time ago decided to open her own business using a little savings she had in order to work better and improve her income. Her greatest problem is economic which is made worse by her having been widowed and having to be responsible for her two children but she’s always worked hard for this and she expects to improve the situation. She wants to offer better customer service so is looking for a loan to buy ingredients to prepare the food and also to replace the tables and chairs which are in poor shape. Her dream is to get ahead with her own restaurant and to improve her income so that there will be better quality of life at home.
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Maria aprendió la actividad trabajando en restaurantes durante unos 20 años, y hace un tiempo decidió montar su propio negocio con unos pequeños ahorros que tenía para poder trabajar mejor y mejorar sus ingresos. La gran dificultad que tiene es la parte económica que se complica por el hecho de haber quedado viuda y tener que responder por sus 2 hijos, pero para esto siempre ha trabajado fuertemente y espera mejorar la situación. Buscando ofrecer un mejor servicio a sus clientes, Maria busca un préstamo para comprar insumos para la preparación de las comidas y también cambiar las mesas y las sillas del negocio por unas en mejor estado.

Su sueño es poder salir adelante con su propio restaurante y mejorar sus ingresos para que en su hogar pueda tener mejor calidad de 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
  • 473
    View loans »
    Colombia Loans Fundraising
  • $15,262,800
    Funds lent in using Kiva
  • 1,796.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,400 helped Maria to buy ingredients for the meals and to replace the tables and chairs.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 24, 2012
Oct 3, 2012
Currency Exchange Loss:
Oct 20, 2013