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Diana Marcela

Update on Diana Marcela

Previously, Diana sold merchandise for different stores. Realizing that her income was inadequate, she decided to sell clothing herself, and with her savings she bought inventory to open her business. Shortly thereafter, she became pregnant and now has a son. Since Diana is a single mother head of household, she has had difficulty supporting her family. She began working very hard and for long hours each day. She now has many orders and is applying for a loan to buy an assortment of clothing to fill her customers' orders.

Her dream is to grow and improve her business so that she will have the chance to open a store where she can sell more and increase her income. She also hopes to generate jobs for single mothers who find themselves in her situation.
View original language description ↓
Diana anteriormente trabajaba vendiendo mercancía en diferentes almacenes, pero al ver que sus ingresos no eran suficientes, decidió comenzar a vender ropa por su propia cuenta y con unos ahorros compró el inventario inicial de su negocio. Hace un tiempo quedó en embarazo y ahora su hijo tiene 1 año, y como Diana es madre soltera cabeza de hogar ha tenido dificultades económicas para poder sostener su familia. Es por esto que comenzó a trabajar fuertemente y con largas jornadas de trabajo, y ahora que tiene grandes pedidos por parte de sus clientes busca un préstamo que le permita comprar surtido de ropa para responder a los pedidos que tiene por parte de sus clientes.

Su sueño es salir adelante y mejorar su negocio para que en un futuro tenga la oportunidad de montar un almacén donde pueda vender más y así mejorar los ingresos; además aspira a generar empleo para madres solteras que se encuentran en su misma situación.

Previous Loan Details

Diana is a single mother head of household with a six month old son. She has had to overcome many difficulties in her life. She left her home town seeking better financial and work opportunities in order to get ahead.That is how she found herself working in a cafeteria. Thanks to that income she… More from Diana Marcela's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Colombia

  • $6,070
    Average annual income
  • 232
    View loans »
    Colombia Loans Fundraising
  • $12,881,350
    Funds lent in using Kiva
  • 1,798.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Diana Marcela to buy an assortment of clothing to fill her customers' orders.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 17, 2012
Listed
Nov 1, 2012
Currency Exchange Loss:
Covered
Ended:
Apr 18, 2013