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María Isabel
María Isabel, age 54, works independently making food for events from her home. She has done technical training in gastronomy and now wants to supplement her studies by doing a course in making sponge cake and spreads. She hopes that with this training she will expand her portfolio of products and offer her clients a greater variety.
She dreams of opening her business in an independent shop and improving the quality of life of her nuclear family.
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María Isabel de 54 años de edad, trabaja como independiente en la elaboración de comidas para eventos desde su residencia. Realizó una técnica en gastronomía y en la actualidad desea complementar sus estudios con la realización de un curso destinado a la elaboración de bizcochos y cubiertas. Espera con dicha capacitación ampliar su portafolio de productos y ofrecerles mayor variedad a sus clientes.
Sueña en montar su negocio en un local independiente y mejorar la calidad de vida de su núcleo familiar.

Additional Information

More information about this loan

This loan is part of Interactuar's effort to being innovative and high-quality non-financial products to more borrowers.

In addition to credit, the organization provides training in business management, gastronomy, tourism, marketing, design, sales, and other areas. It also advises borrowers on their new and existing businesses, and its food laboratory helps farmers increase their crop yields. Together, all of these services help borrowers gain new skills and optimize their businesses.

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
  • 253
    View loans »
    Colombia Loans Fundraising
  • $13,361,775
    Funds lent in using Kiva
  • 1,834.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $125 helped María Isabel to get training in making sponge cake and spreads.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 26, 2013
Listed
May 17, 2013
Currency Exchange Loss:
Covered
Ended:
Oct 20, 2013