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Elizabeth
Elizabeth is 41 years old and a single mother to a 6 year old child. All her life she has worked as a secretary in the office of various business, but she lost her last job because the business made a reduction in personnel. Therefore, she passed up many necessities as she didn't have enough money to support her home. In light of this situation and with the support of her family and friends, she decided to start her own business, a small cafe where she offers a variety of products such as fried food, soda pop, liquor, and other items. With this she has been able to be successful once again and provide support to her young child. Today she seeks a loan in support to continue her business, as she wishes to invest in purchasing items and groceries (soda pop, liquor, beer, snacks, potatoes, turnovers, cakes) and to make some facility improvements (change the door and fix the bathroom) with the goal of having products available to satisfy the demand and preferences of her different customers who visit her and she will have a better image to project and attract new customers. In this way she will be able to increase her income from sales and be able to continue fighting to make her dream reality, which is to accredit her business, expand and build customer loyalty and have the ability to provide employment to others, thus achieving an economic stability and provide a better education and quality of life for her small son.
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Elizabeth a sus 41años de edad es madre soltera de 1 hijo de 6 años. Toda su vida productiva la dedicó a trabajar como secretaria de gerencia en diversas empresas, pero fue despedida de su último empleo, porque en la empresa hicieron recorte de personal. Debido a esto, pasó por muchas necesidades ya que no tenía solvencia para llevar el sustento a su hogar, en vista de esta necesidad y con el apoyo de familiares y amigos, ella decidió emprender su negocio propio, una salsamentaria donde ofrece diversidad de productos como alimentos fritos, gaseosas, licor, entre otros, con esto ha logrado salir adelante nuevamente y brindarle el sustento a su pequeño hijo. Actualmente solicita el crédito como apoyo para continuar con su negocio, pues lo desea invertir en la compra de surtido e insumos (gaseosas, licor, cervezas, mecato, papas, empanadas, pasteles) y realizará unas adecuaciones en el local (cambiar la puerta y arreglar el baño) con el fin de tener disponibilidad de producto para satisfacer la demanda y los gustos de los diferentes clientes que la visitan y tendrá una mejor imagen para atraer a nuevos clientes, así podrá aumentar sus ingresos por ventas y podrá seguir luchando para hacer su sueño realidad, que es acreditar su negocio, ampliar y fidelizar sus clientes y tendrá la facilidad para brindarle empleo a otras personas, logrando así tener una estabilidad económica y darle una mejor educación y bienestar 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

  • $11,100
    Average annual income
  • 563
    View loans »
    Colombia Loans Fundraising
  • $14,877,900
    Funds lent in using Kiva
  • 1,886.3
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,600 helped Elizabeth to buy items and groceries (soda pop, liquor, beer, snacks, potatoes, turnovers, cakes) and to make some facility improvements (change the door and fix the bathroom).
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 29, 2013
Listed
Jul 31, 2013
Currency Exchange Loss:
Covered
Expired:
Aug 30, 2013