Check out some available loans that are similar to this one!
María Carmen Silvia
María is 39 years old. She is the single mother of 3 children and a head of household. During her productive life she has worked as an independent merchant. She started by selling different products as a street vendor in the city streets. She learned that activity from a friend who also did that kind of work. Fourteen years ago, the opportunity came up to have a locale in a hallway full of retailers in the city center. It is very well known for the sale of a wide variety of books of all types. She has been selling this type product since then. She only works Monday through Saturday from 8:00 a.m. to 6:00 p.m. and in this way she generates enough resources to fulfill her family's needs, since all of the financial responsibility is on her. In her works she finds that there is an advantage in not having to be accountable to other people and that she can manage her own time. However, she faces the disadvantage that she doesn't have the benefits of social services. Right now, she is asking for the loan to invest in buying merchandise wholesale (textbooks, literature, novels and more) to stock up enough to fill the end of the year demand and the next school year. This is when her sales increase, generating more profits and income. María says that her main interest is being able to make her dream come true of having her business in a better locale, because right now she is on the second floor. Sometimes that is inconvenient for selling books. Nonetheless, she keeps fighting tirelessly because she aspires to seeing her children graduate from college and become honest and successful people.
View original language description ↓
María, a sus 39 años de edad, es madre soltera de 3 hijos y cabeza de hogar. Durante toda su vida productiva se ha dedicado a trabajar como comerciante independiente, inició vendiendo diversos productos de manera ambulante en las calles de la ciudad, actividad que aprendió de una amiga que también realizaba esa labor. Hace 14 años, se le presentó la oportunidad de tomar un local en un pasaje comercial del centro de la ciudad que es muy reconocido por el amplio comercio de libros de todo tipo y, desde entonces comenzó a vender estos productos, trabaja sola de lunes a sábado de 8:00 am a 6:00 pm y así genera los recursos suficientes para sustentar las necesidades de su familia, ya que toda la carga económica recae sobre ella. Ella encuentra en su labor, la ventaja de no tener que rendir cuentas a otras personas y que puede manejar su propio tiempo, pero debe afrontar la desventaja de no tener los beneficios de las prestaciones sociales. Actualmente solicita el apoyo del crédito para invertirlo en la compra de surtido al por mayor (libros académicos, de literatura, novelas, entre otros), así podrá abastecerse lo suficiente para satisfacer la demanda de fin de año y la de la temporada escolar del próximo año, en la se incrementan sus ventas, generando mayor rentabilidad e ingresos económicos. María manifiesta que su principal interés es poder cumplir el sueño de tener su negocio en un local mejor ubicado, pues actualmente está en un segundo piso, por lo que en algunas ocasiones tiene inconvenientes para vender los libros; sin embargo ella sigue luchando incansablemente, pues aspira a ver sus hijos graduarse de la universidad y lograr que sean personas íntegras y exitosas.

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
  • 480
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,927.6
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $800 helped María Carmen Silvia to buy merchandise wholesale (textbooks, literature, novels, and more).
99% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 29, 2013
Listed
Dec 1, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014