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María Elizabeth
Maria is 57 years old and the single mother of four children, for whom she has worked tirelessly. She started her own business 18 years ago, a small arepas factory in her home, where she works alone Monday through Sunday from 4:00 am to 4:00 pm. She learned this on her own, out of need for generating an income on her own, since she never got support from her children’s father. Little by little she perfected her techniques and gained more customers, allowing her to remain active all these years. Her perseverance, drive, and dedication have allowed her to reach her objectives and her greatest desire is to be able to continue working as long as God and her body will allow it. It’s for this reason that she is asking for her sixth loan so she can make improvements such as buying heat extractors and renovating her work equipment (mill and pots). This will give her better working conditions and speed up the production process so she can deliver her products. This will open up the possibility for her to acquire new customers so she can increase her sales and income, so that Maria can continue supporting the household financially, and in the future have a more relaxed and better quality of life.
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María, con 57 años de edad, es una madre soltera de 4 hijos por los cuales ha luchado incansablemente. Desde hace 18 años inició su propio negocio, una pequeña fábrica de arepas ubicada en su vivienda, en la que trabaja sola de lunes a domingo de 4:00 am a 4:00 pm, esta actividad la aprendió de manera empírica porque surgió la necesidad de generar ingresos por cuenta propia, ya que nunca contó con el apoyo del padre de sus hijos. Poco a poco fue mejorando su técnica y fue adquiriendo más clientela, lo que le ha permitido permanecer activa durante tantos años. Su perseverancia, empuje, dedicación y entrega le han permitido lograr sus objetivos y su mayor anhelo es poder continuar con su labor hasta que Dios y su cuerpo se lo permitan; es por esta razón que solicita el apoyo de su sexto ciclo de crédito con el que desea realizar adecuaciones locativas, comprar extractores de calor y renovar los equipos de trabajo (molino y ollas), lo que le permitirá tener mejores condiciones para laborar y además agilizará su proceso de producción, para así poder cumplir oportunamente con las entregas de los pedidos, abriendo la posibilidad de adquirir nuevos clientes para mejorar sus ventas e ingresos, con los que María podrá seguir aportando a la economía del hogar y en un futuro tendrá la oportunidad de disfrutar una vejez más tranquila y con mejor 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.

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About Colombia

  • $6,070
    Average annual income
  • 265
    View loans »
    Colombia Loans Fundraising
  • $13,496,050
    Funds lent in using Kiva
  • 1,917.3
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,900 helped María Elizabeth to buy and renovate her equipment.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 17, 2013
Listed
Nov 24, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2014