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Claudia Helena
Claudia is 40 years old and is a single mother with 2 children aged 20 and 5 years old. Previously she earned a living selling merchandise and with the money she saved from doing this she went into partnership with a sister who had a business producing arepas [grilled corn cakes]. At present they produce between 400 and 500 packets of arepas per day, which they sell in the local shops.

She is asking for the loan to buy raw ingredients (corn) and equipment for making small arepas. Claudia's dream is that her business will enable her to provide her children with a good education.
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Claudia tiene 40 años y es madre soltera de dos hijos de 20 y 5 años. Anteriormente se dedicaba a la venta de mercancía y con los ahorros de esta labor se asoció con una hermana que tenía un negocio de producción de arepas. En la actualidad producen diariamente entre 400 y 500 paquetes de arepas, las cuales comercializan en tiendas de barrio. Solicita el crédito para compra de materia prima (maíz) e instrumentos para la producción de arepas pequeñas. El sueño de Claudia es que su negocio le permita brindarles una buena educación a sus hijos.

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.

Tags

About Colombia

  • $11,100
    Average annual income
  • 503
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,885.2
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,675 helped Claudia Helena to buy raw ingredients (corn) and equipment for making small arepas [grilled corn cakes].
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 20, 2013
Listed
Jul 23, 2013
Currency Exchange Loss:
Covered
Ended:
May 22, 2014