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Sandra Milena
Sandra, age 32, has three minor children. She struggles every day in order to assure that they have a decent home and a good education. Her greatest difficulty is her financial situation. Every day she needs to look to make ends meet in order to feed her children and pay the rent on her home.

She did not get an education because of the lack of opportunities. Even though her life has been marked by a difficult financial situation, this woman has never stopped putting forth great effort in order to give her family a better tomorrow. She has been making and selling empanadas, ‘arepas con carne’ [typical Colombian pancake-like item with meat], and soft drinks in order to generate the income needed to support her household.

Her greatest wish is to improve the quality of her life. Therefore, she is requesting a loan to buy a fast food cart. She will do this in order to place her work stand in a more central place and improve sales.
View original language description ↓
Sandra tiene 32 años y es madre de tres hijos menores de edad, por los cuales lucha para garantizarles una vivienda digna y una buena educación. Su mayor dificultad es su situación económica, cada día debe buscar el pan para darle de comer a sus hijos y con qué pagar el arriendo de su vivienda.
Careció de educación debido a la falta de oportunidades. Aunque su vida ha estado marcada por una difícil condición económica esta mujer nunca ha dejado de esforzarse por ofrecerle a su familia un mejor mañana. Se ha dedicado a la elaboración y venta de empanadas, arepas con carne y refrescos con el propósito de generar los ingresos necesarios para el sostenimiento de su hogar.
Su mayor deseo es poder mejorar su calidad de vida, por lo cual se encuentra solicitando un crédito que invertirá en la compra de un carro de comida rápidas con el fin de ubicar su puesto de trabajo en un lugar más central y mejorar las ventas.

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
  • 466
    View loans »
    Colombia Loans Fundraising
  • $15,270,025
    Funds lent in using Kiva
  • 1,826.7
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Sandra Milena to buy a fast food cart.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 13, 2013
Listed
Mar 30, 2013
Currency Exchange Loss:
Covered
Ended:
Apr 17, 2014