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Martha Lucía
Martha is 56 years old. She started her own business as a way to generate income that would allow her to contribute to the household budget. She opened a little convenience store with a little bit of merchandise. As the days went by, residents of the area got to know the business and her sales increased. Her range of products grew notably and now after 24 years in business she offers paper goods, hair products, personal hygiene products, beauty items, and more. This has allowed her to have daily income to pay for household necessities, especially now that she is a widow after her husband's death, and all of the financial responsibility is in her hands. Right now, her sales have gone down and she has had to go out and sell products as a street vendor to her friends, relatives and area residents. She hopes that for the end of the December season her sales will increase. That is why she is asking for a loan to buy merchandise wholesale (paper goods, gift bags, Christmas decorations, accessories and more). This way she can fill the demand for products and improve her income level. Martha dreams of having a bigger establishment with better and more varied inventory to be more profitable and able to enjoy a peaceful old age with more wellbeing and quality of life.
View original language description ↓
Martha, con 56 años de edad, comenzó su propio negocio como una alternativa para generar ingresos que le permitieran aportar a la economía del hogar; montó una pequeña miscelánea con poco surtido y, a medida que pasaban los días, los habitantes del sector fueron reconociendo el negocio y las ventas fueron incrementando, por lo que su portafolio de productos creció notablemente y, hoy, luego de 21 años de estar en funcionamiento ya ofrece productos de papelería, accesorios para el cabello, productos de aseo personal, artículos de belleza, ropa, entre otros, lo que le ha permitido tener el sustento diario para solventar las necesidades básicas de su hogar, especialmente ahora que quedó viuda tras el fallecimiento de su esposo, por lo que tiene toda la responsabilidad económica en sus manos. Actualmente, las ventas han disminuido por lo que ella ha tenido que salir a vender los productos de forma ambulante a sus amigos, familiares y vecinos del sector, pero espera que para la temporada de fin decembrina las ventas mejoren, por lo que solicita el crédito para comprar surtido al por mayor (artículos de papelería, bolsas de regalo, adornos navideños, accesorios, entre otros) de esta manera podrá satisfacer la demanda de productos y mejorará su nivel de ingresos. Martha sueña con tener un establecimiento más amplio, con mejor y más variado inventario para que sea más rentable y le permita disfrutar una vejez tranquila, con mejor bienestar y calidad de vida.

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.

About Colombia

  • $11,100
    Average annual income
  • 550
    View loans »
    Colombia Loans Fundraising
  • $14,876,100
    Funds lent in using Kiva
  • 1,932.5
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,050 helped Martha Lucía to buy merchandise wholesale (paper goods, gift bags, Christmas decorations, accessories, and more).
68% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 16, 2013
Listed
Nov 21, 2013
Currency Exchange Loss:
Possible