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Luz Dary
Luz is a 37-year-old woman living in a common law relationship with her spouse; she’s mother of three children. Because of her lack of employment experience it’s been difficult for her to find a job which is why she’s always cared for her children and watched over her home but the difficult economic situation the family is going through led her to decide to start her own business.

With support from the loan she’ll buy a display case, a refrigerator and stock merchandise (packaged snacks, cleaning supplies, dairy products, eggs and ‘arepas’ [Colombian grilled corn cakes], among others). In this way she will be able to generate income to help with household expenses and move her children forward.

Luz is forward-looking and very much wants to get ahead and dreams with making her business grow offering good quality products to attract customers so that her store will become well-known in the zone in order for her income to increase and to offer her family favorable economic stability thus having better quality of life.
View original language description ↓
Luz es una mujer de 37 años de edad, vive en unión libre con su pareja y es madre de 3 hijos. Por falta de experiencia laboral le ha sido difícil encontrar oportunidades de empleo, por eso ella siempre se ha dedicado a cuidar de sus hijos y a estar pendiente de las cosas del hogar, pero por la difícil situación económica por la que está pasando su familia, ella tomó la decisión de iniciar su propio negocio, con el apoyo de un crédito que invertirá en la compra de una vitrina, una nevera y surtido (mecato, productos de aseo, lácteos, huevos, arepas, entre otros). De esta manera podrá generar ingresos para apoyar la carga económica en su hogar y sacar adelante a sus hijos. Luz tiene visión y muchas ganas de salir adelante y sueña con hacer crecer su negocio, ofreciendo productos de buena calidad para atraer a los clientes y de esta forma lograr que su tienda sea reconocida en la zona, para incrementar sus ingresos y ofrecer a su familia una estabilidad económica favorable y así tener mejor calidad de vida.

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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 164
    View loans »
    Colombia Loans Fundraising
  • $13,192,425
    Funds lent in using Kiva
  • 1,885.2
    Colombia Pesos (COP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,600 helped Luz Dary to buy a display case, a refrigerator and stock merchandise.
86% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 19, 2013
Listed
Jul 23, 2013
Currency Exchange Loss:
Covered