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Luz Mercedes
Luz Mercedes is a clear example of many women's courage in spite of a husband's abandonment. Her hope never disappears and her dream to see her children grow drive her to succeed in life.
Without having an education but full of reasons to thrive for a better tomorrow, this 49 year old woman prepares herself everyday to confront the harsh life in the streets where she sells red wine and bread to pedestrians. Through this business Luz is able to feed her family. She dreams of a better future where she can have her own home and the resources needed to offer her 4 children an education.
Today she is requesting a loan to buy a larger food cart for more storage and buy more merchandise (bread, coffee, sugar), to increase sales, improve her financial stability and family's life quality.
View original language description ↓
Luz Mercedes es un claro ejemplo de la valentía de miles de mujeres que a pesar de sufrir el abandono de sus cónyuges, su esperanza nunca se apaga y la ilusión de ver crecer a sus hijos las impulsa a salir adelante.
Sin educación pero llena de razones para luchar por un mejor mañana, esta mujer de 49 años de edad, se prepara cada día para enfrentarse al duro mundo de la calle, en donde comercializa tinto y panes a los transeúntes. De esta manera Luz, consigue el dinero para darle de comer a su familia.
Sueña con un mejor futuro en donde pueda tener una vivienda propia y los recursos necesarios para brindarles a sus cuatro hijos educación.
Hoy se encuentra en búsqueda de un crédito con el fin de comprar una greca con mayor capacidad de almacenamiento y surtido (panes, café, azucar), con el propósito de aumentar sus ventas, mejorando 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

  • $11,100
    Average annual income
  • 484
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,826.7
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Luz Mercedes buy a larger food cart for more storage and buy more merchandise (bread, coffee, sugar).
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 15, 2013
Listed
Mar 29, 2013
Currency Exchange Loss:
Covered
Ended:
Apr 17, 2014