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María Eugenia
María is natural born businesswoman. She inherited a talent for sales that defined her father. Hence, about 12 years ago she started working as an independent businesswoman, selling fried food on the sidewalk of her home, then started selling merchandise and little by little her business grew and increased the number of customers each day. Considering the good results, she decided to open a general store where she also sells blouses that she makes herself.

In order to strengthen the business, she is requesting a loan to invest in the purchase of merchandise for the Christmas season (home furnishings, electronics, among others) in order to capitalize on the increased demand at this time of year so that she will have the ability to satisfy the diverse tastes and needs of her customers and be able sell more, improving revenues.

María states that her goal for the short-term future is to expand her business, increase product inventory and generate employment opportunities. This will allow her to improve profitability and be able to have a better quality of life to enjoy alongside her family.
View original language description ↓
María es una comerciante innata, heredó el gusto por las ventas que caracterizaba a su padre; por ello, hace aproximadamente 12 años inició su labor como comerciante independiente, vendiendo alimentos fritos en la acera de su casa, luego comenzó a vender mercancía y poco a poco fue creciendo el negocio y cada día aumentaba el número de clientes, en vista de los buenos resultados decidió abrir una miscelánea y además vende blusas que ella misma confecciona.
Con el fin de fortalecer el negocio, solicita el crédito para invertirlo en la compra de mercancía para la temporada navideña (artículos de decoración, instalaciones eléctricas, entre otros) para aprovechar el incremento de la demanda en esta época del año, así estará en la capacidad de satisfacer los diversos gustos y necesidades de sus clientes y podrá vender más, mejorando los ingresos.
María manifiesta que su propósito para un futuro a corto plazo, es ampliar su negocio, aumentar el inventario de productos y generar oportunidades de empleo, esto le permitirá mejorar la rentabilidad y podrá tener una mejor calidad de vida para disfrutar al lado de su familia.

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

  • $11,100
    Average annual income
  • 475
    View loans »
    Colombia Loans Fundraising
  • $15,262,800
    Funds lent in using Kiva
  • 1,944.0
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,200 helped María Eugenia to purchase merchandise for the Christmas season (home furnishings, electronics, etc.).
99% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 19, 2013
Listed
Dec 23, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014