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Gilma Rosa
Gilma, 50 years of age, is a woman who has earned the admiration of her family for her commitment and desire to seek a better future for her children. After suffering the abandonment of her husband, Gilma recognized the need to generate income to sustain her household. Seeing that employment opportunities were nil due to her low level of education, she decided to employ herself as a street vendor selling fruit in the center of the city of Medellín, Antioquia. Due to low profitablity and high losses, she later switched to selling clothing and accessories. Thanks to her business activities, her family today enjoys better living conditions.

She is requesting a loan to invest in the purchase of goods in order to increase sales and to guarantee her younger son access to higher education.
View original language description ↓
Gilma de 50 años de edad, es una mujer que se ha ganado la admiración de su familia por su empeño y ganas de buscar un mejor futuro para sus hijos. Después de padecer el abandono de su esposo, Gilma se vio en la necesidad de generar ingresos para el sostenimiento de su hogar. En vista de que las oportunidades de empleo fueron nulas debido a su bajo nivel académico, decidió subemplearse y comenzó vendiendo frutas de manera ambulante en el centro de la Ciudad de Medellín, Antioquia. Posteriormente cambió de actividad ya que la rentabilidad era muy baja y las pérdidas muy altas. Se dedicó a la venta de ropa y accesorios. Gracias a la actividad su familia hoy goza de mejores condiciones de vida.
Se encuentra solicitando un crédito que invertirá en la compra de mercancía con el fin de mejorar sus ventas y poder garantizarle a su hijo menor acceso a la educación superior.

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

  • $6,070
    Average annual income
  • 261
    View loans »
    Colombia Loans Fundraising
  • $13,343,550
    Funds lent in using Kiva
  • 1,820.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,650 helped Gilma Rosa to buy clothing and accessories.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 15, 2013
Listed
Apr 7, 2013
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2014