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Sandra Milena
Sandra is 33 years old, married, and a mother to two children. She was unemployed for a number of months and, because of this, her family had financial problems, with Sandra's husband's salary not being enough to cover household costs. Sandra therefore decided to start her own business: a bargain store, where she sells clothes, kitchen utensils, items for the home, and more. She started this business a few days ago and it has provided her with a sufficient income to be able to help to stabilise the family's finances. Sandra's perseverance, drive, and her constant efforts have helped Sandra to get ahead. She is now applying for a loan in order to buy merchandise (blouses, jeans, underwear, kitchen utensils, and more) in bulk. With these products she will be able to increase the variety of products she offers and can satisfy her customers' needs. She will be able to increase her sales and her profits. With these profits, Sandra tells us that she would like to improve her business and make it a profitable source of income which helps her to improve her living conditions and give her children a good upbringing and better well-being. Moreover, Sandra dream of opening other stores in the future, in order to provide jobs to people who need it.
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Sandra, con 33 años de edad, es casada y madre de dos hijos. Durante varios meses estuvo desempleada y, debido a eso, su familia estaba pasando por una crisis económica pues el salario que su esposo gana no alcanzaba para solventar todas las necesidades del hogar; por esta razón decidió montar su propio negocio, un pequeño almacén de remates, en el que ofrece ropa, utensilios de cocina, artículos para el hogar, entre otros, actividad que inició hace pocos días y que le genera los recursos suficientes para comenzar a estabilizar la economía familiar. Su perseverancia, empuje y su constante lucha le han permitido salir adelante y para ello solicita el apoyo del crédito, con el que desea comprar mercancía al por mayor (blusas, jeans, ropa interior, utensilios de cocina, entre otros) de esta manera podrá aumentar la variedad de los productos que ofrece y podrá satisfacer las necesidades de su clientela, dándole la posibilidad de incrementar sus ventas y las ganancias que recibe. De esta manera, Sandra manifiesta su interés en sacar adelante su actividad y convertirla en una rentable fuente de ingresos que le ayude a mejorar las condiciones de vida y ofrecer a sus dos hijos una buena educación y un mejor bienestar, además en un futuro sueña con abrir otros almacenes para brindar oportunidades de empleo a otras personas necesitadas.

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.

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About Colombia

  • $6,070
    Average annual income
  • 177
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,932.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,600 helped Sandra Milena to buy merchandise (blouses, jeans, underwear, kitchen utensils, and more) in bulk.
93% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 17, 2013
Listed
Nov 22, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014