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Alba Lucía
Alba is 42 years old. She is the mother of one daughter and lives in a common-law marriage with her partner. Five years ago, she started her own business producing arepas [corn cakes]. This idea arose because of the difficult economic situation her family was experiencing some years ago. She learned this work in a practical way, and little by little she perfected her technique and her knowledge for running the business. She has her daughter's help with the business, and she starts working very early in the morning, when she begins the day's production. Later she goes out to sell the arepas to various stores and to neighbors in the area where she lives. In this way, she has been able to generate sufficient income to cover her household expenses and provide an education for her daughter. Alba is a strong, dedicated woman who is passionate about her work and her family. This is the motive for requesting her fourth loan cycle, with the aim of carrying out some improvements to the business (replacing the floor and painting the walls). This will permit her to improve the image of the business and generate greater confidence among her customers about the way she prepares her products. This will be reflected in increases in sales and in the income she receives. Alba dreams of strengthening her business even more, attracting new customers and increasing production. This will permit her, in the near future, to enjoy better living conditions and to stabilize her finances in order to give her daughter the opportunity to earn a university degree and have a future full of success.
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Alba a sus 42 años de edad, es madre de una hija y vive en unión libre con su pareja. Hace 5 años inició su propio negocio, una fábrica de arepas, idea que surgió por la difícil situación económica por la que atravesaba su familia hace algunos años. Esta actividad la aprendió de manera empírica y poco a poco ha ido perfeccionando su técnica y los conocimientos para manejar el negocio, cuenta con el apoyo de su hija y trabaja desde muy temprano en la mañana, cuando comienzan la producción para el día, luego sale a venderlas en las diferentes tiendas y a los vecinos del sector donde reside; de esta manera ha logrado generar los ingresos suficientes para solventar los gastos de su hogar y brindarle una educación a su hija. Alba es una mujer pujante, dedicada, apasionada por su labor y por sus familia, esto la motiva a solicitar el cuarto ciclo de crédito, con el fin de realizar una mejoras locativas (cambiar el piso y pintar las paredes), esto le permitirá mejorar la imagen del negocio y generar mayor confiabilidad en sus clientes con respecto a la forma como elabora los productos. Esto se verá reflejado en el incremento de sus ventas y de los ingresos que recibe. Alba sueña con fortalecer aún más su negocio, conseguir nuevos clientes y aumentar la producción, lo que le permitirá en un futuro cercano, gozar de mejores condiciones de vida y estabilizar sus finanzas para brindar a su hija la oportunidad de estudiar una carrera universitaria y tenga un mañana lleno de éxitos.

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

  • $11,100
    Average annual income
  • 502
    View loans »
    Colombia Loans Fundraising
  • $14,954,225
    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 Alba Lucía to improve her food production area (replace the floor, paint the walls).
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:
Apr 17, 2014