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Clara Elena
Clara is 59 years old. She is the mother of three children. She has fought tirelessly to offer them a better quality of life. Her husband died some time ago and she has to take over responsibility for the home. In her youth, she learned how to sew and she perfected it with practice and made it into her source of income. With her little workshop located in her living room, this woman gets the daily bread and the resources for her younger son's education. In order to improve her income, Clara decided to also open a variety store to add to her work. Today she is very satisfied with the results because she thinks her quality of life has improved.

With the purpose of growing in the market, she is asking for a loan to buy merchandise and do some improvements on the living room of her house where she has the paper goods store and the sewing workshop.
View original language description ↓
Clara de 59 años de edad es madre de tres hijos, por los cuales ha luchado incansablemente para ofrecerles una mejor condición de vida. Su esposo falleció hace algún tiempo por lo cual debió asumir las responsabilidades del hogar. Desde su juventud, aprendió el oficio de la confección por lo cual lo perfeccionó con la práctica y convirtió la actividad en su fuente de ingresos. Con su pequeño taller ubicado en la sala de su casa esta mujer consigue el pan de cada día y los recursos para la educación de su hijo menor. Con el fin de mejorar sus ingresos, Clara decidió montar de manera alternativa una miscelánea para complementar labor. Hoy siente gran satisfacción con los resultados, pues considera que su calidad de vida ha mejorado.
Con el propósito de seguir creciendo en el mercado, se encuentra solicitando un crédito para la compra de mercancía y reformas locativas en la sala de su vivienda en donde tiene ubicada la papelería y el taller de confección.

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
  • 488
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,848.1
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,625 helped Clara Elena to buy different items for her variety store and to make some improvements on the locale.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 9, 2013
Listed
Apr 18, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 17, 2014