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Ester Gladys
Ester is 58 years old, separated, and the mother of two children. Following a very difficult emotional situation when her husband left her and having all the financial responsibilities fall on her, she looked for income opportunities to be able to pay her household expenses and has been selling pastries, sweets, cigarettes, and cell phone cards on foot for the past six years. This has allowed her to provide her family with their basic needs. She is a very enterprising, friendly, dynamic, and hard working woman who works long shifts Monday through Sunday so she can take maximum advantage of her stall, since it’s located on a well-travelled main street in the city where she lives. She is asking for this seventh loan which she will use to fix up her stall, buy stock (pastries, cookies, candy, cigarettes) and pay off the other loan she has. This will allow her to improve her business’ image to the passersby and also to have enough inventory to satisfy her customers’ desires. This will increase her sales and income. Ester dreams of strengthening and growing her business so that she will have the chance to enjoy a better quality of life with her children.
View original language description ↓
Ester, a sus 58 años de edad es separada y madre de 2 hijos. Después de pasar por una situación emocional muy difícil, debido al abandono de su esposo y en vista de que toda la carga económica de su hogar recayó sobre ella, Ester buscó opciones para generar ingresos y poder solventar los gastos de su casa y, desde hace 6 años se dedica a vender mecato, confitería, cigarrillos y minutos a celular en una chaza, actividad que realiza de manera ambulante. Con esto ha logrado suplir las necesidades básicas de su familia. La cliente es una mujer emprendedora, amable, dinámica y trabajadora, labora largas jornadas diarias de Lunes a Domingo, con el fin de aprovechar al máximo la ubicación de su chaza, pues está en una calle principal del municipio donde reside, por lo que es muy transitada. Actualmente solicita su séptimo ciclo de crédito, con el fin de invertirlo en el arreglo de la chaza, comprar surtido (mecato, galletas, confites, cigarrillos) y pagar el saldo del crédito que tiene vigente. Esto le permitirá darle una mejor imagen a su negocio que sea agradable a la vista de los transeúntes y además podrá tener surtido suficiente para satisfacer los gustos de sus clientes, aumentando así sus ventas y por ende sus ingresos. Ester sueña con fortalecer su negocio y hacerlo crecer, para que le dé la oportunidad de disfrutar una mejor calidad de vida al lado de sus hijos.

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
  • 269
    View loans »
    Colombia Loans Fundraising
  • $13,343,550
    Funds lent in using Kiva
  • 1,872.1
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $275 helped Ester Gladys to fix up her stall and buy inventory.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 12, 2013
Listed
Aug 12, 2013
Currency Exchange Loss:
Covered
Ended:
Sep 22, 2013