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Beatriz Elena
Beatriz Elena, 48, is married and has five children. She lives on a street in the rural area of Marinilla. For about 14 years, she has owned a shop, where she sells groceries, candy, produce, and other items. Beatriz works hard and strives every day to support her family, though sometimes she finds that hard, as some customers pay their bills late. This reduces her cash flow, which means she doesn't have enough money to buy inventory.

She will use this loan to make improvements to her business and buy inventory (milk products, produce, cookies, candy, sodas, and household items) so that her customers will have a good impression of her business and visit often and so that she will have more inventory and higher sales. Her main dream is to continue running her business, to increase sales, and to offer better service to even more customers.
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Beatriz Elena es una mujer de 48 años de edad, casada y madre de 5 hijos. Vive en una vereda en la zona rural de Marinilla, donde hace aproximadamente 14 años tiene una tienda donde vende abarrotes, confitería, mecato, entre otros productos. Beatriz es una persona trabajadora y lucha día a día por conseguir el sustento para su familia, pero en ocasiones se le dificulta hacerlo, ya que algunos clientes tardan en cancelar las deudas y esto no le permite tener flujo de caja y por ende no tiene dinero para comprar suficiente surtido. Con el crédito que solicita desea realizar mejoras en el negocio y comprar más surtido (productos lácteos, mecato, galletería, confitería, gaseosas, productos de la canasta familiar), con el fin de generar una mejor percepción de los clientes que la visitan y tener más surtido para así aumentar sus ventas. Su principal sueño es tener la oportunidad de continuar con su negocio, haciendo que las ventas aumenten, tener más clientes para ofrecerles un mejor servicio.

Additional Information

More information about this loan


By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

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
  • 265
    View loans »
    Colombia Loans Fundraising
  • $13,496,050
    Funds lent in using Kiva
  • 1,915.0
    Colombia Pesos (COP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $2,625 helped Beatriz Elena to make improvements to her business and buy inventory (milk products, produce, cookies, candy, sodas, and household items).
83% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 5, 2013
Listed
Jul 9, 2013
Currency Exchange Loss:
Covered