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Gloria Elena
Gloria is the head of her household and a single mother to 2 children. To generate the income required for the home, she has a beauty salon where she offers her clients hair cuts and hair brushing. For 30 years she has experience working in this activity. For the last 10 years she has had her own business so that she can improve her income and the economic part of her home. Thanks to this business she has been able to get ahead her two children and improve the quality of life in her home. For this reason she always works hard to continue to improve everyday.

To be able to confront the end of the season when her clients increase considerably, Gloria is looking for a loan to purchase new chairs and realize other benefits that she needs in order to offer a better service.

Her dream is to have a spa where she can generate employments for the people in need and with this business help improve the quality of life for her children.
View original language description ↓
Gloria es madre soltera cabeza de hogar de sus 2 hijos, y para poder generar los ingresos que requiere en su hogar tiene un salón de belleza donde ofrece a sus clientes el servicio de corte y cepillado del cabello. Desde hace unos 30 años tiene la experiencia de trabajar en esta actividad, y desde hace unos 10 años decidió montar su propio negocio buscando mejorar los ingresos y la parte económica de su hogar. Gracias a este negocio ha podido sacar adelante a sus 2 hijos y mejorar la calidad de vida del hogar y es por esto que siempre se esfuerza para seguir mejorando cada día. Para poder afrontar la temporada de fin de año donde sus clientes aumentan considerablemente, Gloria busca un préstamo para comprar unas sillas nuevas y realizar otras mejoras que necesita para ofrecer un mejor servicio.

Su sueño es llegar a tener un spa donde pueda generar más empleo para las personas más necesitadas y con el que también pueda brindar una mejor calidad de vida para sus hijos.

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
  • 186
    View loans »
    Colombia Loans Fundraising
  • $13,162,950
    Funds lent in using Kiva
  • 1,797.5
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,675 helped Gloria Elena to purchase new chairs and realize other benefits that she needs in order to offer a better service.
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 26, 2012
Listed
Nov 1, 2012
Currency Exchange Loss:
Covered
Expired:
Nov 30, 2012