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María Efigenia
María is 51 years old and the mother of two children. She and her partner are in a common-law relationship. María has been working for 27 years in a variety of businesses. She has owned a food stall, sold merchandise, and managed a cafeteria. María currently recycles glass, cardboard, copper, packaging, and other items. She is able to generate a good profit. María has the help of an hourly employee who is in charge of sorting the materials. She works Monday through Saturday from 8:00 A.M. to 6:00 P.M. Working in this manner allows her to earn the money she needs to provide basic household necessities and to help her children get ahead.

The loan she is requesting will be invested in the purchase of different recyclable materials (paper, cardboard, glass, packaging, and copper) so that she can improve her profit margin. Capitalizing her business will make it more profitable and productive. This will guarantee her financial stability so that she can improve her living conditions and enjoy the fruits of her hard work along with her husband.
View original language description ↓
María tiene 51 años de edad, es madre de dos hijos y vive en unión libre con su compañero sentimental. Lleva 27 años trabajando, en diversos negocios que ha tenido, entre ellos una chaza de picadura, venta de mercancía, cafetería y actualmente se dedica al reciclaje de vidrios, cartón, cobre, envases y otros artículos, esto le ha generado muy buenas utilidades, cuenta con el apoyo de un empleado por horas quien se encarga de separar los artículos, ella trabaja de Lunes a Sábado de 8:00 am a 6:00 pm y, de esta forma ha conseguido el dinero necesario para suplir las necesidades básicas del hogar y sacar a sus hijos adelante. El crédito que solicita lo desea invertir en la compra de reciclaje de diversos tipos (papel archivo, cartón, vidrio, envases, cobre), con lo que podrá mejorar el margen de ganancia y así capitalizará su negocio para que sea más rentable y productivo, que le garantice una estabilidad económica para mejorar las condiciones de vida y poder disfrutar al lado de su esposo los frutos de su arduo y largo trabajo.

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.

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About Colombia

  • $6,070
    Average annual income
  • 407
    View loans »
    Colombia Loans Fundraising
  • $14,624,200
    Funds lent in using Kiva
  • 1,945.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,550 helped María Efigenia to buy paper, cardboard, glass, packaging, and copper for recycling.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 31, 2013
Listed
Sep 4, 2013
Currency Exchange Loss:
Covered
Ended:
Sep 25, 2014