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Olga Lucía
Olga Lucía is a 34-year-old woman and the mother of two children. She is currently separated from her spouse. Approximately one year ago, she bought a business that was badly managed and had few customers. Through her effort and dedication, she transformed the business by giving it a new appearance and making it more pleasant for the customers who visit. Her business is a cafeteria where she offers a variety of products such as pastries, soft drinks, juices, coffee, ice cream, and other items.


Olga is an enterprising and dedicated woman who strives to help her two children get ahead by generating income to satisfy the needs of her household. The loan she is requesting from Interactuar will be used to buy inventory (pastries, sodas, prepared sandwiches, and candy) so that she can offer other alternatives to her customers, increase her sales, and generate more profit. As a result, she will be able to provide an excellent education for her children.


Her goal is to grow her business so that it becomes well-known and stable over time. This will enable her to provide financial security and a better quality of life for her family.

View original language description ↓
Olga Lucía es una mujer de 34 años de edad, madre de 2 hijos y actualmente es separada. Hace aproximadamente un año compró un negocio que estaba mal administrado y era poco visitado, pero ella con su esfuerzo y dedicación lo transformó, dándole una nueva cara y haciéndolo más agradable para los clientes que la visitan. El negocio es una cafetería donde ofrece variedad de productos como mecato, refrescos, jugos, café, helados, entre otros. Es una mujer emprendedora y dedicada, lucha constantemente para sacar a sus dos hijos adelante y generar ingresos para sostener las necesidades en su hogar. Con el crédito que solicita en la Corporación desea comprar surtido (mecato, gaseosas, sándwiches preparados, confitería) para ofrecer otras alternativas a sus clientes y así aumentar las ventas y generar más utilidades, además sería un aporte para brindar una excelente educación a sus hijos. Su meta es hacer crecer su negocio, que sea reconocido y perdurable en el tiempo y, de esta forma conseguir una estabilidad económica para ofrecerle a su familia una mejor calidad de vida.

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.

Tags

About Colombia

  • $11,100
    Average annual income
  • 496
    View loans »
    Colombia Loans Fundraising
  • $14,967,400
    Funds lent in using Kiva
  • 1,923.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Olga Lucía to buy inventory such as pastries, sodas, prepared sandwiches, and candy.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 29, 2013
Listed
Jul 7, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 18, 2013