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María Isabel
María Isabel is 44 years old and is a woman full of dreams and challenges. She has had a passion for crafts and decorations since she was a little girl and developed it during her childhood. She worked in various naturalist and decoration stores in the town of Bello, Colombia.

She decided to use her savings to start a business of her own, selling candles, essences, flowers, and decorations. She works seven days a week from 8:00 am to 7:00 pm. Maria is very satisfied with her business because it allows her to generate income for her household and support her son with his studies. It also allowed her to create employment.

She is asking for this loan in order to buy Christmas decorations so she can increase her sales and generate greater income that she will use to improve her family’s financial situation and quality of life.
View original language description ↓
María Isabel de 44 años de edad, es una mujer llena de sueños y retos, Desde su infancia siempre fue apasionada por las manualidades y la decoración, arte que desarrolló en el transcurso de su juventud. Laboró en varias tiendas naturistas y decorativas en el municipio de Bello, Colombia. Con sus ahorros decidió montar su negocio destinado a la venta de velas, esencias, flores y adornos. Labora los 7 días de la semana de 8 de la mañana a 7 de la noche. María, se siente muy satisfecha con su negocio debido a que con el puede generar ingresos para su hogar y apoyar a su hijo menor en sus estudios, Además porque ha podido generar un empleo. Se encuentra solicitando un crédito con el que comprará artículos para decoración navideña con el fin de incrementar las ventas y generar mayores ingresos para mejorar su condición económica y la calidad de vida de su familia.

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
  • 302
    View loans »
    Colombia Loans Fundraising
  • $13,796,725
    Funds lent in using Kiva
  • 1,796.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped María Isabel to buy Christmas decorations.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 16, 2012
Listed
Jan 1, 2013
Currency Exchange Loss:
Covered
Ended:
Dec 19, 2013