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Aura Isabel
Aura learned more than twelve years ago to manage a general store which she learned at the side of her husband who abandoned her two years ago. Previously she had a business in another city, but due to difficulties of law-and-order she lost a great deal of money and went into bankruptcy. The family decided to move to Medellín where they currently live. They arrived in the city three years ago and started a general store.

Her husband left her two years ago, leaving Aura with the care of her two children of 16 and 13 years of age whom must be guaranteed a good school education and the necessary household needs.

Because of the difficult economy she is struggling hard, and to improve this situation Aura is applying for a loan to allow her to buy basic household merchandise in order to supply her store and improve her sales.

Her dream is to have a bigger and better supplied business, to improve the quality of life she gives her children, and to provide employment to help others.
View original language description ↓
Aura aprendió hace más de 12 años la actividad de manejar una tienda general la cual aprendió al lado de su esposo quién la abandonó hace 2 años. Anteriormente tenía el negocio en otra ciudad, pero debido a dificultades de orden público donde perdió una gran cantidad de dinero y quedó en quiebra, decidió junto con su familia trasladarse para la ciudad de Medellín donde reside actualmente. Hace 3 años llegó a la ciudad y allí montó la tienda general, pero como su esposo la abandonó hace 2 años, Aura quedó al cuidado de sus 2 hijos de 16 y 13 años de edad a quienes les debe garantizar una buena educación escolar y todo lo necesario en su hogar. Por esto la dificultad económica la está golpeando fuertemente, y para mejorar esta situación Aura busca un préstamo que le permita comprar productos de la canasta familiar para surtir su tienda y mejorar las ventas que tiene.

Su sueño es tener un negocio más grande y mejor surtido, mejorar la calidad de vida que le brinda a sus hijos y generar empleo para ayudar a otros.

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
  • 483
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,798.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Aura Isabel to buy basic household merchandise to supply her general store which will improve her sales.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 17, 2012
Listed
Nov 1, 2012
Currency Exchange Loss:
Covered
Ended:
Jul 19, 2013