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Flor Rocío
Flor is 35 years old and is the single mother of two children. She lives with her parents and works independently to generate income on her own in order to support her children. She assumes all of the economic responsibility for her family since the father of her children abandoned them. Her father has a business in which he sells jackets and Ecuadorian blankets; they are from Ecuador but they have been living in Colombia for 40 years. He gave her a small space within his shop so that she could start selling men's clothing, an activity that she alternates in the afternoon with selling fast food. She does all of this with the goal of generating the resources necessary to give her children daily sustenance and the opportunity to receive an education.

Flor is a vigorous, persistant and very hard-working woman who works non-stop so that her children will want for nothing. This is the reason why she is applying for a loan: she will invest it in the purchase of merchandise in bulk (men's jeans, shirts, pants) and thus have more variety to offer and satisfy diverse tastes in clothing. This will be reflected in the increase of sales and profit.

Flor dreams of seeing her business grow strong, stable, and well-recognized in the area, which over time will change her family's living conditions and she will be able to enjoy her children, the fruit of her hard work.
View original language description ↓
Flor tiene 35 años de edad y es madre soltera de 2 hijos. Vive con sus padres y actualmente se dedica a trabajar como independiente para generar sus ingresos por cuenta propia, para sostener a sus hijos, pues toda la carga económica recayó sobre ella, luego del abandono del padre de sus hijos. Su padre tiene un negocio donde vende chaquetas y cobijas ecuatorianas, pues ellos son del Ecuador, pero llevan 40 años radicados en el país. En un pequeño espacio del local, que su padre le cedió ella comenzó a vender ropa para hombre y en las tardes alterna la actividad en el almacén, con la venta de comidas rápidas, todo esto, con el fin de generar los recursos necesarios para brindar a sus hijos el sustento diario y darles la oportunidad de educarse. Flor es una mujer pujante, perseverante y muy trabajadora, trabaja incansablemente para que a sus hijos nunca les falte nada. Esto la motiva a solicitar el crédito, que será invertido en la compra de mercancía al por mayor (jeans, camisas, pantalones para hombre), así tendrá más variedad para ofrecer a sus clientes y satisfacer los gustos diversos. Esto se verá reflejado en el incremento de sus ventas y los ingresos que recibe por ellas; además Flor sueña con ver su negocio fortalecido, sostenible y reconocido en el sector, lo que a mediano plazo le cambiará las condiciones de vida de su familia y podrá disfrutar con sus hijos, los frutos de su ardua labor.

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
  • 303
    View loans »
    Colombia Loans Fundraising
  • $13,796,725
    Funds lent in using Kiva
  • 1,932.2
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,050 helped Flor Rocío to buy merchandise in bulk (men's jeans, shirts and pants).
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 1, 2013
Listed
Sep 3, 2013
Currency Exchange Loss:
Covered
Expired:
Oct 3, 2013