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Lidia Rosa
Lidia is a hardworking woman who is 55 years old. She is the mother of three offspring and lives in a common-law relationship with her partner. Currently she works selling beauty products that two of her daughters, who are distributors, send her from the Atlantic coast. Lidia repays the costs and uses the profits for her personal expenses and to pay for household necessities. She has a fixed customer base because she has the advantage of not having competition in her town. She works every day so that she can make the best use of her time.

Her drive, tenacity and attention to detail have enabled her to get ahead and to apply for a loan that will enable her to display her products well and create a better image for her clients. In this way she will attract new buyers and earn greater profits. Lidia notes that this will give her the opportunity to succeed and to fulfill her dream of opening her own shop, which will be more spacious and have a bigger inventory to meet the needs of her customers thus leading to increased earnings. Consequently she will be able to improve the quality of life of her nuclear family and continue to support her daughters, although from a distance.
View original language description ↓
Lidia es una mujer trabajadora de 55 años de edad, madre de 3 hijos y vive en unión libre con su pareja. Actualmente se dedica a vender productos de belleza, artículos que 2 de sus hijas le envían desde la costa atlántica, ya que ellas son distribuidoras, Lidia les paga al costo y las ganancias que obtiene son para sus gastos personales y para solventar las necesidades de su hogar. Tiene su clientela fija, ya que cuenta con la ventaja de no poseer competencia en el pueblo donde reside, trabaja todos los días para aprovechar al máximo su tiempo. Su empuje, tenacidad y esmero le han permitido salir adelante, por ello se motiva para solicitar el crédito con el que desea e, esto le permitirá exhibir bien los productos, creando una mejor imagen en los clientes, lo que para ella significa atraer nuevos compradores y tener más ganancias. Lidia manifiesta que esto le da la oportunidad de avanzar para llegar a cumplir el sueño de montar su propio almacén, que sea más amplio y con más variedad de surtido, para satisfacer las necesidades de sus clientes y tener mejores ingresos económicos, así mejorará la calidad de vida de su núcleo familiar y puede seguir apoyando a sus hijas aún desde la distancia.

Additional Information

More information about this loan


By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 177
    View loans »
    Colombia Loans Fundraising
  • $13,171,600
    Funds lent in using Kiva
  • 1,880.9
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,350 helped Lidia Rosa to make some alterations to the place where she sells her products (install shelving).
56% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 20, 2013
Listed
Oct 22, 2013
Currency Exchange Loss:
Possible