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Olga Lucía
Olga, 40, is married and has no children. She’s currently running her own business: restaurant where she offers breakfast, lunch, snacks, fried fast-food and soft-drinks. In this way she earns the income needed to help her husband with the household expenses.

Olga’s an enterprising, active, driven woman who strives tirelessly to give her business continuity. She works hard shifts from 7am until 8pm. She alternates this activity with selling products and merchandise via catalog to earn extra income.

Olga is asking for the loan to buy supplies (snacks, dairy products, soft-drinks) to have more variety of products on-hand to meet all needs and customer preferences thus significantly improving her income. This drives her to continue striving towards her main dream which is to consolidate and make her restaurant well-known throughout the sector so that her profit margin will increase which will hope her improve her living conditions to enjoy a better future in the medium run.
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Olga, a sus 40 años es casada y no tiene hijos. Actualmente se dedica a atender su negocio propio, un restaurante donde ofrece desayunos, almuerzos, mecato, fritos y gaseosas, de esta manera ha obtenido los ingresos necesarios para apoyar a su esposo con los gastos del hogar. Olga es una señora emprendedora, activa, pujante y lucha incansablemente para darle continuidad a su negocio, trabaja arduas jornadas desde las 7:00 am hasta las 8:00 pm. Esta actividad la alterna con la venta de mercancía y productos por catálogo, con el fin de obtener ingresos extra. Olga solicita el crédito con el fin de invertirlo en la compra de surtido (mecato, productos lácteos, gaseosas); esto le permitirá tener más variedad de productos para satisfacer todas las necesidades y gustos de su clientela y mejorará significativamente sus ingresos. Esto la impulsa a seguir luchando por el cumplimiento de su principal sueño que es acreditar y consolidar el restaurante, que sea reconocido en todo el sector y que le permita tener mayor margen de utilidad, lo que le ayudará a mejorar sus condiciones de vida, para disfrutar de un mejor futuro a mediano plazo.

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
  • 247
    View loans »
    Colombia Loans Fundraising
  • $13,361,775
    Funds lent in using Kiva
  • 1,922.2
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Olga Lucía to buy packaged snacks, dairy products and soft-drinks.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 22, 2013
Listed
Aug 23, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 17, 2014