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Martha Ines

Update on Martha Ines

Martha is a 54-year old rural woman who is the mother of two young children. Her financial situation motivated her to sell all kinds of fried foods, pastries, and soft drinks from her home to help with the family's expenses and be able to provide her children with an education. Her greatest dream is to improve her financial situation because her husband does not have steady work and sometimes they do not have enough to feed their family. Her children's future is her greatest concern because she wants them to have better opportunities. In order to improve her situation, Martha is requesting a loan to buy supplies, which will allow her to increase her sales volume.
View original language description ↓
Martha es una mujer de 54 años, campesina, madre de dos hijos menores de edad. Su situación económica la motivó a vender desde su casa toda clase de fritos, mecatos y gaseosas, con el fin de ayudar con los gastos de la familia y poder brindarles a sus hijos la oportunidad de estudiar. Su mayor sueño es poder mejorar su condición económica debido a que su esposo no tiene un empleo fijo y en ocasiones no consiguen si no para la alimentación de la familia. Su mayor preocupación es el futuro de sus hijos debido a que su deseo es que ellos puedan tener mejores oportunidades. Con el fin de mejorar su situación, doña Martha se encuentra solicitando un crédito para la compra de insumos que le permitirán aumentar su volumen de ventas.

Previous Loan Details

Martha has always been noted for being a very hardworking person who is devoted to her family. She’s 54 years old, married and the mother of two children who are 15 and 17 years old. Martha has always wanted to provide a better quality of life for her children and this is why she collaborates w... More from Martha Ines's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Colombia

  • $11,100
    Average annual income
  • 469
    View loans »
    Colombia Loans Fundraising
  • $15,266,950
    Funds lent in using Kiva
  • 1,764.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $400 helped Martha Ines to buy ingredients for prepared foods, pastries, and soft drinks.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 12, 2012
Listed
Feb 1, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 18, 2013