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Maria Fernandina
'Combative' is the best way to characterize Maria, a person who despite the great difficulties that life has presented to her, has had the fortitude to continue advancing her children, offering them a good quality of life.

For many years now Maria has operated a street stall where she sells sports clothing. With this stand, she is able to sustain her home. Maria is a single mother heading a household with 2 children. Her husband died some time back.

But illness has resulted in her daughter, her youngest child, having to help in the business, and now, with her daughter's aid, they have been able to improve sales. As a result, Maria is requesting a loan to purchase a supply of sports clothing and respond to great demand from her customers.

Maria's dream is to keep the business moving ahead and to improve sales. In addition, she dreams of having her own shop where she can locate and cease to suffer the contaminations of working in the street. Also, she wishes to be able to offer her 2 children a better quality of life.
View original language description ↓
Luchadora es la mejor manera de caracterizar a María, una persona que pese a las grandes dificultades que le ha presentado la vida ha tenido la fortaleza para continuar sacando adelante sus hijos brindándoles una buena calidad de vida. Desde hace muchos años tiene un puesto en la calle donde vende ropa deportiva y con esto puede sostener su hogar ya que es madre soltera cabeza de hogar de sus 2 hijos porque su esposo murió hace un tiempo. Una enfermedad ha hecho que su hija que es la menor le tenga que ayudar a trabajar el negocio, y ahora con la ayuda de su hija ha podido mejorar las ventas de su negocio. Es por esto que Maria busca un préstamo para comprar surtido de ropa deportiva y responder a la gran demanda de sus clientes.

Su sueño es seguir saliendo adelante con este negocio y poder mejorar las ventas. Además, sueña con tener un local donde ubicarse para no sufrir las contaminaciones de trabajar en la calle, además poder ofrecerle a sus 2 hijos una 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
  • 466
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,797.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Maria Fernandina to buy a selection of sports clothing and respond to her customers' growing demand.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 24, 2012
Listed
Nov 1, 2012
Currency Exchange Loss:
Covered
Ended:
Jul 17, 2014