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Paola Andrea
27-year-old Paola considers her family to be the most important thing in her life and ensuring their well-being is one of her highest priorities. Paola works in a shopping mall in the town of Rionegro, Antioquia but, owing to the difficult financial situation in which her household finds itself, she is requesting a loan to buy a food cart from which to sell mango. This business will be run by her aunt. It will allow her to create work and improve her household's financial situation.

Paola dreams of becoming a successful businesswoman and hopes that this will be the first of many carts that she will have around town.
View original language description ↓
Paola de 27 años de edad, considera que lo más importante en su vida es su familia y el bienestar de la misma es una de sus grandes prioridades. Labora en un centro comercial del municipio de Rionegro Antioquia, pero debido a la difícil condición económica en su hogar se encuentra solicitando un crédito con el fin de adquirir un carro para la venta de mangos, el cual administrará su tía, lo que le permitirá generar empleo y mejorar la economía en su hogar.
Sueña con convertirse en una empresaria de éxito por lo cual espera que este sea el primero de los muchos carros que desea distribuir por toda su localidad.

Additional Information

More information about this loan

By supporting this loan, you're helping a borrower launch a new business!

This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young 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
  • 360
    View loans »
    Colombia Loans Fundraising
  • $14,083,800
    Funds lent in using Kiva
  • 1,839.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Paola Andrea to buy a food cart for selling mango.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 18, 2013
Listed
May 21, 2013
Currency Exchange Loss:
Covered
Ended:
Jan 17, 2015