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María Cecilia
María is 57 years old and has for 15 years sold foods and drinks - such as candies, snacks, cigarettes, chips, and sodas - from a cart. She also offers cell phone minutes and charging.

With support from the city government, María has taken several courses in business management that have added to her experience as an independent entrepreneur. To this combination of experience and study, María has added the effort, tenacity, and dedication that have allowed her to sustain her business in the face of numerous challenges. Two of the greatest obstacles she faces are poor weather and changes in the neighborhoods where she works.

María is always seeking new ways to increase the range of products that she can offer in order to meet the needs and tastes of her changing customer base. She is therefore applying for her third loan cycle and plans to use the loan funds to stock her business. María will purchase wholesale goods (snacks, candy, cigarettes, soft drinks, and other products), strengthening her business and boosting her income. She will then be able to ensure greater financial stability so that she and her husband can enjoy a better quality of life.
View original language description ↓
María, a sus 57 años de edad se dedica a atender su negocio, un puesto de venta ambulante, donde ofrece confitería, mecato, cigarrillos, fritos, gaseosas, minutos y recargas a celular, actividad que realiza hace aproximadamente 15 años y, gracias al apoyo de la administración municipal ha realizado algunos cursos con los cuales ha aprendido a manejar su negocio, complementando con la experiencia que posee como comerciante independiente. De esta manera, con mucho esfuerzo, empeño, persistencia, constancia y dedicación ha logrado mantener en funcionamiento su establecimiento, sobrepasando diversos obstáculos, soportando las inclemencias del clima y los cambios urbanísticos por los que atraviesa la zona donde se encuentra ubicada. Con el ánimo de aumentar sus ventas, siempre está buscando opciones que le ayuden a mejorar la oferta de productos, para satisfacer las necesidades y gustos de su cambiante clientela. Esto la lleva a solicitar su tercer ciclo de crédito, con el que desea surtir su negocio, comprando productos al por mayor (mecato, confitería, cigarrillos, refrescos, gaseosas, entre otros), así fortalecerá su negocio, tendrá mejores ingresos y podrá garantizar una estabilidad económica favorable para disfrutar de una mejor calidad de vida al lado de su esposo.

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
  • 495
    View loans »
    Colombia Loans Fundraising
  • $14,967,400
    Funds lent in using Kiva
  • 1,920.3
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped María Cecilia to stock her business by purchasing wholesale goods (snacks, candy, cigarettes, soft drinks, and other products).
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 14, 2013
Listed
Sep 15, 2013
Currency Exchange Loss:
Covered
Ended:
Jun 17, 2014