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Lucy Preciosa
Lucy, 33 years old, is a single mother of a 12 year old son. Due to lack of career opportunities, she went through a difficult financial time as she did not have the resources to bring money home. This motivated her to take advantage of the lack of service offerings in this sector. She decided to start working as a stylist, brushing hair, cutting hair, and giving manicures and pedicures. She works out of her house or at her clients' homes, depending on their preferences. At first, she had to purchase her supplies in small quantities as she did not have the capital to purchase them wholesale. This allowed her to begin to get ahead and earn the income necessary to satisfy the basic needs of her household.

She is a hardworking and active woman with an eagerness to advance, which motivated her to request this loan. She wishes to invest the loan in the purchase of supplies and tools for her work (hair straightener, shampoo, conditioner, hair treatments, nail polish) with the goals of continuing her work and offering her clients better service, and in so doing increase her income.

Lucy dreams of opening her own beauty salon where she would be able to offer a more comfortable setting and better service to her clients, and also give her the opportunity to employ others. This will also allow her better financial stability so her son can have an excellent education and better quality of life.
View original language description ↓
Lucy, con 33 años de edad es madre soltera de un hijo de 12 años. Por falta de oportunidades laborales pasó por una situación económica difícil, pues no tenía recursos para llevar el sustento a su hogar, por este motivo y aprovechando la ventaja de la poca oferta del servicio en el sector, decidió comenzar a realizar actividades de estilista como cepillado, corte, manicure y pedicure, trabajando en su casa o a domicilio, dependiendo de los requerimientos de sus clientes y, sobrepasando los obstáculos que se le presentaban a la hora de comprar los insumos por unidad, pues no tenía capital suficiente para comprar al por mayor. Así comenzó a salir adelante nuevamente y a obtener los ingresos para satisfacer las necesidades básicas en su hogar. Ella es una mujer guerrera, activa y con ganas de progresar, por eso se motivó para solicitar el crédito que desea invertir en la compra de herramientas e insumos de trabajo (plancha para el cabello, shampoo, acondicionador, tratamientos capilares, esmaltes para uñas) con el fin de poder continuar realizando su trabajo y ofrecerle un mejor servicio a sus clientes y así podrá aumentar sus ingresos. Lucy sueña con montar su propia sala de belleza, donde le pueda ofrecer mayor comodidad y mejor servicio a sus clientes y que le permita dar oportunidad de empleo a otras personas, así tendrá una estabilidad económica favorable para que su hijo tenga una excelente educación y mejor calidad de vida.

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

  • $11,100
    Average annual income
  • 466
    View loans »
    Colombia Loans Fundraising
  • $15,270,025
    Funds lent in using Kiva
  • 1,889.4
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Lucy Preciosa purchase tools and supplies for work (hair straightener, shampoo, conditioner, hair treatments, nail polish).
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 24, 2013
Listed
Jul 28, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 17, 2014