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Paola Andrea
Paola is 20-year-old woman who is single and has no children. She currently has a business of excavating and selling sand from a plot of land along the banks of the Magdalena River. Paola learned about this business when she worked for a quarry stone cooperative in the town where she lives. She has the help of one employee who does the physical labor. Paola already has contacts and established customers who buy her product. With the revenue she generates, she is able to pay her employee and support her household.

Paola is an enterprising, dedicated, and dynamic woman. She is requesting her first loan so that she can invest in the purchase of two horses that she needs to operate her extraction equipment. This will help streamline her production process and improve her earnings. Her dream is to continue her business and to save money toward the purchase of her own house where she can provide a better quality of life for her parents.

View original language description ↓
Paola a sus 20 años de edad, es una mujer soltera y aún no tiene hijos. Actualmente se dedica a la explotación y venta de arena ya que tiene un lote a orillas del río Magdalena, esta actividad la aprendió cuando trabajó en la cooperativa de balastreros del municipio donde reside. Ella cuenta con el apoyo de un empleado que realiza la actividad física y ya tiene los contactos y clientes fijos para la venta del producto, con lo cual obtiene los ingresos para pagarle al empleado y para llevar el sustento a su hogar. Paola es una mujer emprendedora, dedicada y muy dinámica, por eso solicita su primer crédito, para invertirlo en la compra de 2 caballos con el equipo necesario para realizar la extracción del material, con lo cual podrá agilizar la producción y mejorará sus ingresos. Ella sueña con poder darle continuidad a su negocio y ahorrar para comprar una casa propia, donde le pueda ofrecer a sus padres 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.

About Colombia

  • $11,100
    Average annual income
  • 366
    View loans »
    Colombia Loans Fundraising
  • $16,188,475
    Funds lent in using Kiva
  • 1,881.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Paola Andrea to buy two horses that are needed to operate her extraction equipment.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Jun 21, 2013
Jul 25, 2013
Currency Exchange Loss:
Oct 17, 2014