Check out other loans that are currently fundraising!
Elizabeth
Elizabeth, 31, is a single mother with a 6-year-old daughter. She spent several months held captive by an illegal organization. When she regained her freedom, she saw the need to look for options that would allow her to advance on her own, because it was difficult for her to find work opportunities. This is why eight months ago she started her own business, a store where she sells things for babies, like toys, clothing, bottles, and other accessories. The establishment is located in a very commercial area and thanks to the route, it is well-recognized. She has the support of her mother and the income from her sales goes to meet her family's basic needs. Elizabeth has had to overcome many obstacles and difficult situations, like the winter season and the public safety problems that sometimes surface. It directly affects her sales and on a personal level, she still has to struggle with trauma as a consequence of the kidnapping. However, little by little, she has been able to recover and move forward. Currently, she is asking for a loan as support, to invest in the purchase of wholesale merchandise (clothing, toys, accessories, diapers) with interest in starting to stock up and increase her inventory for the upcoming Christmas season. Now costs are lower and she can buy more products, which will be reflected in the increase of her sales, and ultimately, her income. This way, she will be able to give her daughter greater comfort. She also hopes to achieve her dream of expanding her business, strengthening it so that it if profitable and sustainable over time, because she hopes to pass it to her daughter as a family tradition, with which they can improve their quality of life and enjoy it as a family.
View original language description ↓
Elizabeth tiene 31 años de edad y es madre soltera de una hija de 6 años. Luego de pasar varios meses secuestrada por la organización al margen de la ley; cuando recuperó su libertad, vio la necesidad de buscar opciones que le permitieran salir adelante por cuenta propia, pues le fue difícil encontrar oportunidades laborales. Es por ello que desde hace 8 años montó su propio negocio, un almacén donde vende artículos para bebés, como juguetes, ropa, teteros y otros accesorios; el establecimiento se encuentra ubicado en un sector muy comercial y gracias a su trayectoria, ya cuenta con buen reconocimiento. La cliente cuenta con el apoyo de su madre y de las ventas que realiza, se derivan los ingresos para solventar las necesidades básicas de su familia. Elizabeth ha tenido que sobrepasar muchos obstáculos y situaciones difíciles, como las épocas de invierno y los problemas de orden público que a veces se generan, afecta directamente sus ventas y a nivel personal, aún tiene que seguir luchando con el trauma que quedó como secuela de su secuestro; sin embargo, poco a poco ha sabido reponerse y salir adelante. Actualmente solicita el crédito como apoyo, para invertirlo en la compra de surtido al por mayor (ropa, juguetes, accesorios, pañales) con el interés de comenzar a abastecerse y aumentar su inventario para la temporada navideña que se aproxima, pues ahora los costos son más reducidos y puede adquirir más productos, lo que se verá reflejado en el incremento de sus ventas y por ende, sus ingresos. De esta manera podrá tener la capacidad de brindar a su hija un mejor bienestar, además desea cumplir el sueño de ampliar su negocio, consolidarlo para que sea rentable y sostenible en el tiempo, pues desea que pase a su hija como una tradición familiar, con la que podrán mejorar su nivel de vida y disfrutarla en 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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 551
    View loans »
    Colombia Loans Fundraising
  • $14,651,825
    Funds lent in using Kiva
  • 1,939.7
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,600 helped Elizabeth to buy stock wholesale (clothing, toys, accessories, diapers).
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 30, 2013
Listed
Sep 1, 2013
Currency Exchange Loss:
Covered
Ended:
May 22, 2014