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Melany
Melany, 18, is in a common law relationship. Three months ago she and her spouse decided to start a business selling furniture and mattresses using some savings they had. Neither of them has had any assessment or business training and to date they’ve managed it and have learned by trial and error.

Melany is an active, energetic young woman who very much wants to get ahead which is why she’s motivated to request the loan to buy work tools (a pneumatic staple gun, a circular saw and a base-assembling machine) and also raw materials at wholesale (lumber, nails, staples, leather, etc.) in order to have a variety of supplies so customer needs can be met and to manufacture her own designs and deliver a quality finished product. With this she will be able to improve he income and reach her dream of owning a store in a space of her own thus generating better quality of life and well-being for her family.
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Melany, a sus 18 años de edad, vive en unión libre con su pareja. Hace 3 meses, en compañía de su pareja tomó la iniciativa de comenzar el negocio de comercialización de muebles y colchones, con unos ahorros que tenían. Ninguno de los dos ha tenido asesoría o capacitación en este negocio y hasta el momento lo han manejado y han aprendido por prueba / error. Melany es una joven activa, enérgica y tiene muchas ganas de salir adelante, por esta razón se motiva para solicitar el crédito con el fin de invertirlo en la compra de herramientas de trabajo (pistola remachadora neumática, un circular, una máquina ensambladora de bases) y materia prima al por mayor (madera, clavos, remaches, cuero, entre otros) con el fin de tener variedad de insumos que le permitan satisfacer los gustos de sus clientes y fabricar sus propios diseños para entregar un producto terminado de buena calidad. Con esto podrá mejorar sus ingresos para alcanzar el sueño de tener una galería, en un local propio y así generar una mejor calidad de vida y bienestar para su familia.

Additional Information

More information about this loan

By supporting this loan, you're helping a borrower launch a new business!

This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.

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

  • $6,070
    Average annual income
  • 163
    View loans »
    Colombia Loans Fundraising
  • $13,225,875
    Funds lent in using Kiva
  • 1,884.2
    Colombia Pesos (COP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $2,675 helped Melany to buy work tools.
72% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 27, 2013
Listed
Aug 5, 2013
Currency Exchange Loss:
Covered