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Ofelia Del Carmen
Ofelia, at 68 years of age, is dedicated to making foam hats for the Christmas season. She works alone and has no fixed work hours. Her labor is done exclusively in the Christmas season. Ofelia began this activity in an empirical manner, and with this, she has generated sufficient income to pay for the basic necessities of her home.

Her creativity and perseverance have motivated her to solicit a loan. With this money she wishes to purchase supplies at wholesale (foam and paint). In this manner, she will be able to expand production and have the opportunity to sell more articles. This will generate better income to cover the sustenance of her home.

Ofelia dreams of being able to make her products not only in season, but also, to manufacture hats year round. She wants them to become entertaining objects for girls. In this manner, she could enjoy a better quality of life and spend her old age with much more tranquility alongside her husband.
View original language description ↓
Ofelia, a sus 68 años de edad, se dedica a elaborar sombreros alusivos a la temporada navideña, fabricados en espuma, trabaja sola y no tiene horario de trabajo, pues su labor solo es realizada en la temporada de navidad. Comenzó a realizar la actividad de manera empírica y de esta forma ha generado los ingresos suficientes para solventar las necesidades básicas de su hogar. Su creatividad y perseverancia la motivan para solicitar el crédito, con el dinero desea comprar insumos al por mayor (espuma, pintura), de esta forma podrá ampliar su producción y tendrá la oportunidad de vender más artículos, lo que le generará mejores ingresos para llevar el sustento a su hogar. Ofelia sueña con poder hacer que sus productos no sólo sean elaborados en temporada, sino que se fabriquen todo el año y que sean objetivos divertidos para las niñas; de esta manera podría disfrutar de una mejor calidad de vida y pasar una vejez mucho más tranquila 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.

Tags

About Colombia

  • $11,100
    Average annual income
  • 498
    View loans »
    Colombia Loans Fundraising
  • $14,967,400
    Funds lent in using Kiva
  • 1,921.8
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $325 helped Ofelia Del Carmen buy hat making supplies at wholesale (foam, paint).
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 11, 2013
Listed
Nov 12, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2014