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María Teresa
María is a 43-year old woman and mother of two minor children, whom she watches over with an aim to provide them with a better quality of life. She lives in a small lane and does domestic work in a plantation. Three years ago, her boss lent a piece of land to her so that she could cultivate and earn some extra money. María seized this opportunity to increase her income and decided to cultivate onions. Her biggest challenge have been selling prices, which are very unstable and occasionally don't have a good return. Given to this uncertainty, she has decided to pursue another activity: to make "arepas" (corn tortillas), sell them to her neighbors and distribute them within the urban area.

Her biggest dream is to have access to a larger plot, cultivate large scale and obtain a higher income. This would allow her to provide her two children with a good education. She also seeks to increase her production and sales of arepas. She plans to use the requested loan to buy a motorcycle to carry the arepas to the town, a grill, raw materials, and fertilizer and irrigation supplies for the onion crop.
View original language description ↓
María de 43 años, es madre de dos hijos menores de edad, por los cuales vela a fin de ofrecerles mejores condiciones de vida. Reside en una pequeña vereda realizando oficios domésticos en una finca. Hace tres años su patrón le prestó un lote para que realizara sembrados y pudiera generar dinero extra. Con esta oportunidad María no dudó en incrementar sus ingresos, por lo cual decidió sembrar cebolla. Su mayor reto ha sido luchar contra los precios de venta debido a que son muy inestables y en ocasiones no genera una buena rentabilidad. Debido a esta incertidumbre ha optado por asumir una actividad más, elaborar arepas que vende a sus vecinos y distribuye dentro del área urbana.
Su mayor sueño es poder acceder a una parcela más grande para realizar sembrados a escala y obtener mejores ingresos que permita ofrecerles a sus dos hijos una buena educación. A si mismo incrementar su producción y venta de arepas. Por esta razón se encuentra solicitando un crédito para la compra de una motocicleta que le permita transportar sus arepas hasta el pueblo, una parrilla, materia prima e insumos de abono y riego para la siembra de cebolla.

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

  • $11,100
    Average annual income
  • 381
    View loans »
    Colombia Loans Fundraising
  • $16,201,675
    Funds lent in using Kiva
  • 1,777.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,700 helped María Teresa to buy a motorcycle to carry "arepas" (corn tortillas).
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Dec 27, 2012
Feb 1, 2013
Currency Exchange Loss:
May 22, 2014