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María Patricia
María Patricia is 54 years old and very handy. She was a housewife most of the time; cared for the children, and did the housework. Now her children are grown and she decided to restart her passion. She went to school and learned art. Once she learned, she began making candles and does this daily in a small workshop from 8:00 am to 7:00 pm. She also sells them there. Her greatest desire is to expand her business and eventually have her own school where she can teach her skills to others to earn extra money. María is asking for a loan in order to buy supplies such as paraffin, wax, and paints. Since it’s the year end season, her sales increase.
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María Patricia es una mujer de 54 años de edad, amante a las manualidades y con un gran don para elaborarlas. La mayor parte del tiempo fue ama de casa, dedicada al cuidado de sus hijos y a las labores del hogar. Hoy sus hijos ya son adultos por lo que ella decidió retomar su gran pasión, ingresó a estudiar a una academia en donde fortaleció el arte. Una vez aprendió el oficio se inclinó por la elaboración de velas. Actividad que realiza diariamente de 8 de la mañana a 7 de la noche en un pequeño taller en donde aprovecha para comercializarlas. Su gran deseo es ampliar su negocio, acreditarlo y a mediano plazo tener su propia academia en la que pueda transmitir su conocimiento a otras personas y enseñarles una forma de generar ingresos. María se encuentra solicitando un crédito para la compra de materiales como parafina, ceras y pinturas debido a que en la temporada de fin de año sus ventas se incrementan.

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
  • 192
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,816.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $300 helped María Patricia to buy supplies.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 27, 2012
Listed
Jan 1, 2013
Currency Exchange Loss:
Covered
Ended:
Mar 19, 2014