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Nancy Elena
Nancy is 35years old and the single mother of a five year old son, for whom she has worked tirelessly since his birth. She worked as a domestic employee at many homes for many years, but she got tired of the extensive labor and the lack of possibility of improving her income, so she decided to retire and used her severance pay to open her own business, selling coffees, aromatics, and wooden games on foot, around and within the market plaza in her town. She has been doing this for 10 years and it allowed her to buy a home of her own and support her son.

Her spirit of success, strong, positive mental fortitude and well-defined goals have motivated her to request this loan so she can buy new thermoses to store her products, disposable items in quantity (cups, stirrers, napkins), pay off another loan she has from a speculator, and have capital available to restock every two weeks (coffee, aromatics, fruit, sugar, and other things). This will allow her to improve her business profitability, because speculators charge high interest rates and not having to return to them will allow her the income she needs to continue supporting her household needs and invest more into her business. She can give it better continuity and continue to offer good quality products to her customers.

Nancy wants to continue working and having the opportunity to advance toward completing her main dream of building some apartments to rent out so she can provide an excellent quality education to her son and enjoy the best quality of life and wellbeing.
View original language description ↓
Nancy, con 35 años de edad, es una madre soltera de un hijo de 5 años por quien ha luchado incansablemente desde su nacimiento. Durante muchos años trabajó como empleada doméstica en diferentes casas de familia, pero cansada de la extenuante labor y de no poseer posibilidades para mejorar sus ingresos, decidió retirarse y con la liquidación de su último empleo decidió emprender su propio negocio, una venta de tinto, café, aromáticas y jugos de manera ambulante alrededor y dentro de la plaza de mercado del municipio donde reside, actividad que realiza desde hace 10 años y con la que ha logrado obtener una vivienda digna propia y brindar a su hijo el sustento diario. Su espíritu de superación, su estructura mental fuerte y positiva y con sus metas bien definidas se motiva para solicitar el apoyo del crédito con el que desea comprar nuevos termos térmicos para almacenar el producto, artículos desechables al por mayor (vasos, mezcladores, servilletas), pagar el saldo de un crédito que tiene con un agiotista y tener capital de trabajo disponible para surtir cada 15 días (café, aromáticas, frutas, azúcar, entre otros), esto le permitirá mejorar la rentabilidad de su negocio, pues el interés que cobran los agiotistas son bastante altos y al no tener que recurrir a ellos puede mejorar los ingresos para seguir solventando las necesidades de su hogar e invertir más en su negocio para darle continuidad y seguir ofreciendo productos de muy buena calidad a sus clientes. De esta manera Nancy desea continuar realizando su labor y tendrá la oportunidad de seguir avanzando hacia el cumplimiento de su principal sueño que es poder construir otros dos apartamentos para alquilar y así complementar los ingresos con los que podrá dar una educación de excelente calidad a su hijo y disfrutar junto a él una mejor calidad de vida y bienestar.

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

  • $6,070
    Average annual income
  • 163
    View loans »
    Colombia Loans Fundraising
  • $13,192,425
    Funds lent in using Kiva
  • 1,917.3
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped Nancy Elena to buy supplies.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 17, 2013
Listed
Nov 24, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014