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Luz Faride
Luz is 46 years old and, because of the violence in her town of birth, has become a victim of forced displacement. Luz came to the city with her husband and it is here that she started to work as an independent businesswoman, selling fried foods in different cafés, outside schools, and as a street vendor in the city centre. Luz started this work as she needed an income to support her family.

Luz has been presented with the opportunity to start renting a property equipped with display cases and shelves. As a reuslt she has decided to apply for a loan because she needs to buy stock in bulk (cakes, grains, sugar, salt, coffee, hot chocolate, diary products, cold meats and other basic goods) and to pay the rent for the property and furnishings. With this loan, Luz can start a new, productive project, with which she hopes to have a more profitable business that she can establish in the area.

Luz wants to strengthen her business little by little and, in the future, she would very much like to own both the premises and the furnishings she will rent. This will guarantee her a steady income, allowing her bring money home to the family kitty and to improve her family's well-being and quality of living.
View original language description ↓
Luz es una mujer de 46 años de edad, víctima del desplazamiento forzado debido a la violencia que se presentaba en su pueblo natal; se trasladó con su esposo para la ciudad donde comenzó a trabajar como comerciante independiente, vendiendo alimentos fritos en diferentes cafeterías, a las afueras de instituciones educativas y de manera ambulante por las diferentes calles del centro de la ciudad; esta actividad surgió de la necesidad de generar ingresos para el sustento familiar.
Actualmente, se le presentó la oportunidad de adquirir un local arrendado, dotado con estanterías y vitrinas, razón que la impulsa a solicitar el apoyo del crédito, pues requiere comprar surtido al por mayor (mecato, granos, azúcar, sal, panela, café, chocolate, lácteos, carnes frías, entre otros productos de la canasta familiar), pagar el arriendo del local y de los equipos que posee; con esto podrá dar inicio a su nuevo proyecto productivo, con el que espera lograr una mejor rentabilidad, para posicionarse en el sector.
Luz desea ir fortaleciendo poco a poco su negocio y, en un futuro anhela poder ser propietaria tanto del local como de los activos, para garantizar una entrada de dinero estable que le permita aportar a la economía de su hogar y mejorar la calidad de vida y bienestar de la familia.

Additional Information

More information about this loan

By supporting this loan, you're helping a borrower launch a new business!

This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.

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

  • $11,100
    Average annual income
  • 486
    View loans »
    Colombia Loans Fundraising
  • $15,260,325
    Funds lent in using Kiva
  • 1,934.8
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,600 helped Luz Faride to buy stock in bulk (cakes, grains, sugar, salt, coffee, hot chocolate, diary products, cold meats and other basic goods) and to pay the rent for the property and furnishings.
85% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 13, 2013
Listed
Dec 13, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2015