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Edilma

Update on Edilma

Edlima, at 56 years old, makes a living as domestic staff in different family homes. To complement her income, she has also sold products via a catalog for 8 years. In this way she makes enough income to help her husband out with the household expenses and to help get her five children ahead.



Her drive, effort, and strength have motivated her to request a loan with the intention of buying a variety of wholesale items such as sweets, chocolate, cosmetics, perfumes, shoes, accessories, and others catalog products. This way she will have a greater variety of products available to satisfy the demand that increases at the end of the year, which is nearing. She will achieve better sales and more income for her family.



Edlima dreams of continuing with her business and making it more profitable and sustainable with time so that in the future she can enjoy a peaceful retirement without worries, she can improve her quality of life, and she can enjoy well being alongside her family.
View original language description ↓
Edilma, a sus 56 años se dedica a trabajar como empleada de servicios domésticos en diferentes casas de familia pero, para complementar sus ingresos, también se dedica a vender productos por catálogo desde hace 8 años, de esta manera genera los recursos económicos suficientes para apoyar a su esposo con la carga económica de su hogar y para sacar adelante a sus 5 hijos. Su empuje, empeño y fortaleza la motivan para solicitar un crédito con el interés de comprar surtido al por mayor (galletería, chocolatería, cosméticos, perfumería, calzado, accesorios, entre otros productos de catálogo), así tendrá más variedad de productos disponibles para satisfacer la demanda que se incrementa en la temporada de fin de año que se aproxima, logrando así, mejorar las ventas y la entrada de dinero para su familia. Edilma sueña con poder continuar con su negocio, haciendo de éste una actividad más rentable y sostenible en el tiempo para que en un futuro le permita disfrutar de una vejez tranquila y sin preocupaciones, mejorar la calidad de vida y disfrutar al lado de su familia de un mejor bienestar.

Previous Loan Details

Fifty-five year old Edilma is a woman whom life has taught that with courage and effort, it is possible to get ahead. Although her life is not surrounded by luxuries, she feels that her happiness is complete by having her five children by her side. She has worked her whole life, since her hus... More from Edilma's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

Tags

About Colombia

  • $6,070
    Average annual income
  • 164
    View loans »
    Colombia Loans Fundraising
  • $13,194,000
    Funds lent in using Kiva
  • 1,933.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Edilma to buy wholesale items such as sweets, chocolate, cosmetics, perfumes, shoes, accessories, and others catalog products.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 10, 2013
Listed
Nov 22, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2014