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Milena María
Milena, 30, is mother to two children and lives in a free union with her partner. She sells catalog merchandise such as cosmetics, accessories, clothing, perfume, and more. She has managed to earn income to support her family during the three years she has been doing this work. She is enterprising, forward-looking, dedicated, and committed to her family and job. She always looks for chances to do better.

Milena has applied for a loan to buy wholesales merchandise (perfume, body lotions, cosmetics, shampoo, and hair treatments) to take advantage of discounts and offer more variety to meet her customers' needs and desires. This will raise her gross margin on sales, and Milena will be able to take a step toward completing her main goals: growing her business and improving the standard of living for her two small children, which will bring her the financial stability necessary to give them the best education possible.
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Milena, con 30 años de edad es madre de 2 hijos y vive en unión libre con su pareja. Actualmente se dedica a la venta de mercancía y productos por catálogo, ofrece cosméticos, accesorios, ropa, perfumes, entre otros y con esto ha logrado obtener recursos para aportar al sostenimiento de su hogar durante los tres años que lleva realizando dicha actividad. Es una mujer emprendedora, con visión, dedicada y comprometida con su familia y su trabajo, siempre busca oportunidades que le permitan progresar, por esa razón solicita el crédito, con el fin de invertirlo en la compra de mercancía al por mayor (perfumería, cremas corporales, cosméticos, shampoo, tratamientos capilares) para aprovechar los descuentos que le realizan y ofrecer más variedad que satisfaga los gustos y necesidades de sus clientes y así poder tener mejor margen de utilidad por las ventas. De esta manera, Milena podrá avanzar hacia el cumplimiento de su objetivo primordial, que es ampliar su negocio y mejorar la calidad de vida de sus dos pequeños hijos, brindándoles una estabilidad económica favorable para darles la mejor educación posible.

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

  • $6,070
    Average annual income
  • 177
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,889.4
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Milena María to buy wholesales merchandise (perfume, body lotions, cosmetics, shampoo, and hair treatments).
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 24, 2013
Listed
Aug 5, 2013
Currency Exchange Loss:
Covered
Ended:
Jul 17, 2014