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Soley Paola
At the age of 20, Soley has owned a café for about two years. She works Monday to Saturday from 8am to 7pm and gets help from one direct employee. She sells snacks, soft-drinks, fried food, pastries, etc. She learned this occupation empirically through trial and error and has gradually increased her knowledge of the business’ management.

She’s a cheerful, enthusiastic, enterprising, active young woman who very much wants to make progress. This has motivated her to request a loan to buy stock (snacks, cookies, soft-drinks, fried food, sweets, etc.) at wholesale to have a wider variety of products on hand to satisfy customer demand and tastes leading to the possibility of greater sales which will positively affect her income that she’ll be able to use to advance and make her business a good source of income.

She dreams with making it well-received and to strengthen it so that it will be well-known in the sector and in the medium run in future expand the café to attract a larger number of customers that will generate a higher level of income she will use to improve her living conditions and well-being.
View original language description ↓
Soley, a sus 20 años de edad es propietaria de una cafetería que posee hace aproximadamente 2 años, trabaja de Lunes a Sábado de 8:00 am a 7:00 pm y cuenta con el apoyo de un empleado directo, allí ofrece mecato, gaseosas, alimentos fritos, confitería, entre otros. Aprendió la labor de manera empírica, utilizando el método de prueba/ error y poco a poco ha ido ampliando sus conocimientos sobre el manejo de su negocio. La cliente es una joven alegre, entusiasta, emprendedora, activa y con muchos deseos de progresar; esto la motiva a solicitar el crédito para invertirlo en la compra de surtido al por mayor (mecato, galletería, gaseosas, alimentos fritos, confitería, entre otros), así podrá ofrecer más variedad de productos para satisfacer las necesidades y gustos de los clientes, abriendo la posibilidad de incrementar sus ventas, lo que afecta positivamente la entrada de recursos económicos, con los cuales podrá ir avanzando para hacer de su negocio una buena fuente de ingresos, pues sueña con acreditarlo y fortalecerlo para que sea reconocido en el sector y, en un futuro a mediano plazo desea ampliar la cafetería para atraer mayor cantidad de clientes, que le generarían un nivel más alto de ingresos con los que mejorará sus condiciones de vida y su bienestar.

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
  • 268
    View loans »
    Colombia Loans Fundraising
  • $13,479,900
    Funds lent in using Kiva
  • 1,884.8
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Soley Paola to buy stock merchandise.
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:
May 22, 2014