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Noralba
Noralba is 45 years old, and a woman passionate about her work and devoted to her family. For several years she has been running her brother's food preparation business.

As required by the Ministry of Health, she must undertake a microbiological analysis and a clean-up plan, but as she doesn't have the financial resources, she is requesting a loan so that she can undertake this investment and improve service quality.

Her greatest dream is to be able to buy her brother's business due to the fact that he is living outside the country.
View original language description ↓
Noralba de 45 años de edad, es una mujer apasionada por su trabajo y dedicada a su familia. Desde hace algunos años se encuentra administrando el negocio de su hermano dedicado a la preparación de alimentos. Por exigencia de la secretaría de salud, debe realizar un análisis microbiológico y un plan de saneamiento, pero como no cuenta con los recursos económicos se encuentra solicitando un crédito para realizar dicha inversión y mejorar la calidad en la prestación del servicio.

Su mayor sueño es poder comprarle el negocio a su hermano debido a que este se encuentra fuera del país.

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
  • 186
    View loans »
    Colombia Loans Fundraising
  • $13,090,925
    Funds lent in using Kiva
  • 1,839.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $300 helped Noralba to undertake a microbiological analysis and a cleanup plan.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 29, 2013
Listed
May 18, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 18, 2013