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Gloria Patricia
Gloria has been making and selling candles for the past twelve years in order to support her household. She has an enterprising spirit and with the intention to generate income she decided to start her own candle business. She started to make them in her house and sell them to her friends, neighbors and others she knew. The business has grown so much since then, she now sells to churches, pharmacies and event organizers.

Gloria is asking for this loan in order to buy machinery to make candles and buy raw materials (wax, wicks, decorations, wrapping) to create a positive growth in her business.
View original language description ↓
Gloria hace 11 años trabajaba para una empresa dedicada a la fabricación y venta de velas, para el sostenimiento diario en su hogar.
Ella con una mentalidad emprendedora y con el ánimo de generar mayores ingresos, decide crear su propio negocio de velas, empezó a fabricarlas en su casa y venderlas a sus amigas, vecinos y familiares, desde entonces ha crecido tanto el negocio que ya le vende a iglesias, almacenes y organizadores de eventos.
Gloria está pidiendo el crédito para poder comprar maquinaria que fabrica velas de 1,4 y materia prima (cera, mecha, decorados, envolturas), para así generar un crecimiento positivo para el negocio

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.

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About Colombia

  • $11,100
    Average annual income
  • 469
    View loans »
    Colombia Loans Fundraising
  • $15,266,950
    Funds lent in using Kiva
  • 1,887.6
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,700 helped Gloria Patricia to buy machinery and raw materials.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 26, 2013
Listed
Jul 29, 2013
Currency Exchange Loss:
Covered
Ended:
Jul 17, 2014