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Andrea María
Andrea is 24 years old and a single mother with one child who is three years old. She has had to work since she was young because of her family’s precarious economic situation. She says that everything she has been able to achieve is the product of her hard work and determination. Each day she works in her business selling liquor and soft drinks.

Andrea is requesting this loan to stock her business with liquor and soft drinks and to buy tables so that she can offer better service to her customers. Her greatest wish is to grow her business within the local market, and in the near future expand her business by opening new locations.
View original language description ↓
Andrea de 24 años de edad, es madre soltera de un hijo de 3 años. Desde joven a tenido que laborar debido a la precaria condición económica de su familia. Asegura que todo lo que ha conseguido no es más que el fruto de su esfuerzo y dedicación. Labora diariamente en su negocio dedicado a la venta de licor y bebidas refrescantes. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de surtido y mesas para la prestación de un mejor servicio.
Su mayor deseo es crecer dentro del mercado local y en un futuro próximo abrir nuevas sedes para expandirse.

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
  • 137
    View loans »
    Colombia Loans Fundraising
  • $12,811,350
    Funds lent in using Kiva
  • 1,879.7
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $275 helped Andrea María to stock her business with liquor and soft drinks and to buy tables.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 27, 2013
Listed
May 28, 2013
Currency Exchange Loss:
Covered
Ended:
Oct 20, 2013