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Olga Lucía
Olga is 33 years old, the mother of two children, 11 and 14 years old. She lives with her common law partner. For the past 13 years she has run a business, that her father-in-law left her as an inheritance, a bar that offers soft drinks, beer, coffee, pastries and other products. The business has been in existence for 50 years, so it is well known in the area it is located in.

Olga learned this business by working in it and with the help of her husband and an employee has been able to maintain it. But due to financial difficulties she has not been able to invest money to make the business grow, since up to now she has only made enough to support her household. So she is requesting this loan to expand and fix-up the business and to buy stock (soft drinks, coffee, beer, pastries). Doing this she can improve the image of the business which will change the customers perception of it. She will also have a variety of products to offer, which will be reflected by higher sales and in the end, greater profits.

She can also advance towards the accomplishment of her main goal, which is to expand her business, stock it well, and in the short term install a few billiard tables to increase the influx of clients. With which she can enjoy more economic stability, provide better education for her children and enjoy a higher standard of living for her family.
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Olga con 33 años de edad, es madre de dos hijos de 14 y 11 años y vive en unión libre con su pareja. Desde hace 13 años administra un un negocio, que su suegro le dejó de herencia, un café bar donde ofrece gaseosas, cervezas, café, mecato, entre otros productos. El negocio tiene 50 años de existencia, por lo que ya es reconocido en el sector donde se encuentra ubicado. Olga aprendió la actividad de manera empírica y con el apoyo de su esposo y un empleado han podido mantenerlo; pero debido a dificultades económicas no han podido invertirle dinero para hacerlo crecer, pues por ahora sólo es posible generar ingresos para el sustento de su hogar. Actualmente solicita el crédito para invertirlo en la ampliación y arreglo del negocio y comprar surtido (gaseosas, café, cervezas, mecato), con lo cual podrá darle una mejor imagen al negocio que cambie la percepción de los clientes y además tendrá variedad de productos para ofrecer, lo que se verá reflejado en el aumento de las ventas y por ende, de sus ingresos. Además podrá avanzar hacia el cumplimiento de su principal meta que es hacer crecer su negocio, tenerlo bien surtido y en un corto plazo poder implementar algunos billares para incrementar la afluencia de clientes, con lo que podrá mejorar la estabilidad económica, brindar una mejor educación a sus hijos y disfrutar de unas mejores condiciones de vida al lado de su familia.

Additional Information

More information about this loan

By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

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
  • 365
    View loans »
    Colombia Loans Fundraising
  • $15,629,950
    Funds lent in using Kiva
  • 1,877.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,150 helped Olga Lucía to expand and fix up her business and buy stock (soft drinks, coffee, beer, pastries).
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 15, 2013
Aug 13, 2013
Currency Exchange Loss:
Dec 19, 2013