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María Nora
María, age 61, is an enterprising woman with big dreams to fulfill.

She has worked all of her life selling food. However, she had to suspend her business activity due to an illness.

Now, after a few months, she has decided to take up her trade once again. That is the reason she is requesting a loan. She will use the loan to buy a fast food cart.

She hopes to be able to generate the resources needed to continue paying for her house and to cover the household necessities.
View original language description ↓
María de 61 años de edad, es una mujer emprendedora y con grandes sueños por realizar. Toda su vida ha laborado vendiendo comidas, pero debido a una enfermedad debió suspender la actividad. Hoy después de algunos meses decidió retomar su oficio, razón por la cual se encuentra solicitando un crédito que invertirá en la compra de un carro de comidas rápidas.
Espera poder generar los recursos necesarios para seguir pagando su vivienda y cubrir las necesidades del hogar.

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
  • 264
    View loans »
    Colombia Loans Fundraising
  • $13,610,900
    Funds lent in using Kiva
  • 1,825.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped María Nora to buy a fast food cart.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 12, 2013
Listed
May 4, 2013
Currency Exchange Loss:
Covered
Ended:
Sep 22, 2013