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María Yaneth
María Yaneth is 27 years old and she has liked to bake ever since she was a child. She wakes up early every morning, and goes to the kitchen to prepare pies and bread that her neighbors and local people order. This line of work makes it possible for María Yaneth to pay for her university studies.

Her biggest dream is to open her own establishment, a sort of cafeteria/bakery, and she is currently working on this project. She is requesting a loan to buy supplies and materials needed for making her products. December is a time of the year when she receives a lot of orders, which makes it an excellent opportunity for her to increase her income.
View original language description ↓
María Yaneth tiene 27 años de edad y desde niña le ha gustado la panificación, Todos los días se levanta muy temprano, se dirige a la cocina y comienza su faena con la preparación de pasteles y panes que le encargan sus vecinos y personas del sector. Con esta actividad ella sostiene sus estudios universitarios. Su mayor deseo es montar su propio negocio con servicio de cafetería y repostería, proyecto en el cual se encuentra trabajando. En la actualidad busca solicita un crédito para la compra de latas, insumos y materiales para la elaboración de sus productos ya que en diciembre se aumentan sus pedidos y es una excelente oportunidad para aumentar sus ingresos.

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
  • 136
    View loans »
    Colombia Loans Fundraising
  • $12,811,350
    Funds lent in using Kiva
  • 1,822.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,650 helped María Yaneth to buy supplies for baking.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 16, 2012
Listed
Dec 1, 2012
Currency Exchange Loss:
Covered
Ended:
May 22, 2014