Check out some available loans that are similar to this one!
Mary Luz
Mary, 30, is a single mother with one 10-year-old son. Since 2008, she has made a living with her own business, a grocery store where she sells dairy products, meat, cookies, and cakes, among other products. This has allowed her to provide for her household.

Mary has gone through very difficult times, as she was a victim of a tragedy in her region in 2010 when a landslide brought on by strong rains took away everything she had worked so hard to build. However, with her positive attitude and her spirit to overcome, she has managed to move forward alongside her son and her parents. With plenty of effort, hope, and dedication, she started her business once again, and little by little she has been recuperating the level of sales which she had before the tragedy. Due to the landslide, the region's inhabitants were forced to move and sales fell abruptly during that time.

Mary has applied for a loan to invest in the purchase of wholesale stock (cakes, cookies, dairy products, and others) to take advantage of discounts which have been offered to her. She will then be able to have a better profit when she makes sales, which will allow her to continue providing for her household. She will make one more step towards fulfilling her greatest dream, which is to convert her business into a well-known mini supermarket which is often visited by customers. She will then have the ability to provide her family with better well-being and to give her son an excellent education.
View original language description ↓
Mary, a sus 30 años de edad es madre soltera de un hijo de 10 años. Desde el año 2008 se ha dedicado a atender su negocio, una tienda de abarrotes donde ofrece productos lácteos, cárnicos, galletería, mecato, entre otros, con lo cual ha logrado llevar el sustento a su hogar. Mary ha pasado por situaciones muy difíciles, debido a que fue víctima de la tragedia que se presentó en el sector donde reside por un deslizamiento de tierra provocado por las fuertes lluvias que se presentaban en el año 2010, ella perdió todo lo que con gran esfuerzo había construido, pero con su actitud positiva y su espíritu de superación ha logrado salir adelante al lado de su hijo y sus padres. Con mucho esfuerzo, esperanza y dedicación ella inició nuevamente su negocio y poco a poco ha ido recuperando el nivel de ventas que tenía antes de la tragedia, pues a causa de esto los habitantes del sector se vieron forzados a desplazarse y las ventas habían caído abruptamente en esa época. Actualmente Mary solicita el crédito, con el fin de invertirlo en la compra de surtido al por mayor (mecato, galletería, productos lácteos, entre otros) con el fin de aprovechar los descuentos que le ofrecen y así poder tener una mejor utilidad por las ventas, lo que le permitirá continuar llevando el sustento y la carga económica en su hogar, y así podrá avanzar un paso más hacia el cumplimiento de su principal sueño que es convertir su negocio en un minimercado, que sea reconocido y muy visitado por los clientes, así tendrá la posibilidad de brindar mejor bienestar a su familia y una excelente educación a su pequeño hijo.

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
  • 171
    View loans »
    Colombia Loans Fundraising
  • $13,171,600
    Funds lent in using Kiva
  • 1,891.9
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Mary Luz to buy wholesale stock (cakes, cookies, and dairy products, among others).
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 25, 2013
Listed
Jul 29, 2013
Currency Exchange Loss:
Covered
Ended:
Mar 19, 2015