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Gladis María
Gladis Maria is a 41 year old single mother of two children. After her husband left, she assumed all the household obligations. She began working in the restaurant her mother owned for 30 years. Six years ago, Gladis took over ownership after her mother passed away. She works daily until 8:00 pm. Gladis' major obstacle is her competition since it is vastly commercial. However, she sees this as a great advantage as it forces her to be better and to be a pioneer in food service.

Currently, Gladis is applying for this loan to renovate the restaurant. This will allow her to offer quality service and gain loyalty from her customers. She also hopes to better her quality of life and to be able to afford the opportunity for her children to have a superior education.
View original language description ↓
Gladis María de 41 años de edad es madre soltera de dos hijos. Debido al abandono de su esposo, asumió las obligaciones del hogar, por lo cual inició trabajando en el restaurante de su madre que lleva 30 años en el mercado. Desde hace seis años, Gladis es la nueva propietario luego del fallecimiento de su madre.
Labora diariamente hasta las 8:00 pm. Y en la actualidad genera un empleo directo. Su mayor dificultad, asegura Gladis es la competencia del sector por ser altamente comercial, pero manifiesta que esta también es una gran ventaja que le exige ser mejor para ser pionero en el servicio de alimentación.

En la actualidad se encuentra solicitando un crédito para adecuaciones locativas con el propósito de ofrecer un servicio de calidad y fidelización de sus clientes. Espera mejorar sus condiciones de vida y brindarle a sus hijos la oportunidad de ingresas 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
  • 247
    View loans »
    Colombia Loans Fundraising
  • $13,479,900
    Funds lent in using Kiva
  • 1,837.6
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Gladis María to make renovations to her restaurant.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 8, 2013
Listed
Apr 16, 2013
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2014