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Cindy

Update on Cindy

Cindy is only 21 years old, but has become a great example for her family, friends and neighbors in her town. At her young age, she dreams not only of having a business to earn a daily income but also in building a small company that generates employment and productivity. She learned how to make shoes from her father who is in the same trade.

Currently, she works independently and lives with her mother who has health problems and needs constant medical care. Her mother is the main motivation for this young woman who works daily to make enough income to support the household and provide a better lifestyle.

She is now requesting a loan to buy materials such as leather, buckles, and glue to increase productivity, expand her business and give her family a better economic situation.
View original language description ↓
Cindy con tan sólo 21 años de edad, se ha convertido en un gran ejemplo para sus familiares, amigos y vecinos de su localidad. A su corta edad, sueña no sólo con tener un negocio que le proporcione el sustento diario, si no en construir una microempresa que sea generadora de empleo y productividad.
Aprendió el oficio de la fabricación de calzado gracias a su padre que se dedica a la misma labor.
En la actualidad, labora como independiente y vive con su madre, a quien sostiene debido a que tiene problemas de salud por lo cual requiere estar en constante tratamiento médico.
Su madre es la principal razón por la que esta joven trabaja diariamente a fin de conseguir los ingresos necesarios para sostener el hogar y garantizarle una mejor calidad de vida.
En la actualidad se encuentra solicitando un crédito que destinará para la compra de materiales como cuero, hebillas, pegantes con el fin de aumentar su capacidad de producción, sacar su negocio adelante y generar mejores condiciones económicas para su familia.

Previous Loan Details

Cindy is a 20-year-old entrepreneur who is highly motivated to provide a better life for her 2-year-old daughter and also contribute economically in her household. She decided to launch her own business making footwear. She learned the trade from her father, who has been in this line of work fo... More from Cindy'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
  • 482
    View loans »
    Colombia Loans Fundraising
  • $15,251,825
    Funds lent in using Kiva
  • 1,804.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Cindy to buy materials such as leather, buckles, and glue.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 28, 2013
Listed
Mar 5, 2013
Currency Exchange Loss:
Covered
Ended:
May 22, 2014