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Eulalia
Eulalia, 47, is a single mother of two children. She manages her washing machine rental business. Initially the idea was her son’s who recognized a profitable business in this activity but when he got a job with a firm a year ago she took over managing it.

This activity consists in renting washing machines by the hour; that is to say, the customer calls and requests the service and the washing machine is delivered to her home for the amount of time the customer pays for. She’s managed to earn family income this way.

She’s a kind, hardworking, driven woman who is dedicated to this work which has become her main source of income. She strives diligently so that it will persevere over time.

She needs the loan she’s requesting to buy a new washing machine and to service the ones she already has. In this way she’ll expand capacity to meet customer demand and provide better service with assets that operate adequately. All of this will be reflected in increased income that she hopes to use to reach her dream of having a firm selling washing machines on credit that will lead to improved living conditions for her and her family.
View original language description ↓
Eulalia a sus 47 años, es madre soltera de dos hijos y se dedica actualmente a atender su negocio de alquiler de lavadoras. Inicialmente la idea surgió de su hijo, quien vio en esta labor un negocio rentable, pero en vista de que se empleó en una empresa, ella se encarga desde hace un año a manejarlo; esta actividad consiste en alquilar lavadoras por horas, es decir, el cliente llama solicita el servicio y la lavadora se lleva a domicilio durante el tiempo que el cliente pague; de esta manera ha logrado generar ingresos para aportar a la economía del hogar. La cliente es una mujer amable, pujante y trabajadora, dedicada a esta labor que se ha convertido en su principal fuente de ingresos y lucha con esmero para que perdure en el tiempo. El crédito que solicita lo desea invertir comprando una lavadora nueva y realizando mantenimiento a las que ya posee, así ampliará su capacidad para satisfacer la demanda de los clientes y prestará un mejor servicio con activos que funcionen adecuadamente; todo esto se reflejará en el aumento de sus ingresos, con los que espera seguir avanzando para cumplir el sueño de tener un almacén de venta de lavadoras a crédito, con lo que podrá mejorar sus condiciones de vida y las de su familia.

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
  • 186
    View loans »
    Colombia Loans Fundraising
  • $13,162,950
    Funds lent in using Kiva
  • 1,884.8
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Eulalia to buy a new washing machine and to service the ones she already has.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 21, 2013
Listed
Sep 21, 2013
Currency Exchange Loss:
Covered
Ended:
Aug 30, 2014