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María Olivia
María is an exemplary wife and mother, renowned in the village for her charisma and sociability. She is 44 years old and earns a living by running her own business, a grocery store which she started approximately seven years ago with her husband. The business arose from the need to generate enough income to pay for household expenses, as their three children are school-aged and need a lot of money for education. María used to live in the city, but decided to return to the village to take care of her parents, who live alone.

María would like to use the requested loan to purchase goods in bulk (dairy products, cold cuts, beers, soft drinks, and liquor, among other items) in order to meet the increased demand at the end of the year and increase income for her family.

María dreams of strengthening and solidifying her business even more, so that it will last a long time and provide a stable income so that her children can have a better education, go to university, and enjoy a better quality of life with those that they love.
View original language description ↓
María, una madre y esposa ejemplar, reconocida en el pueblo por su carisma y don de gente, tiene 44 años de edad y se dedica a trabajar en su negocio, una tienda de abarrotes que inició hace aproximadamente 7 años, en compañía de su esposo, la idea surgió por la necesidad de generar recursos para solventar los gastos del hogar, pues sus 3 hijos están en edad escolar y demandan mucho dinero para educación, se había radicado en la ciudad pero por cuestiones familiares, decidió retornar al pueblo con su familia, para estar pendiente de sus padres que vivían solos.
El crédito que solicita desea invertirlo en la compra de surtido al por mayor (lácteos, carnes frías, cervezas, gaseosas, licor, entre otros), con la idea de satisfacer la demanda que se incrementa en la temporada de fin de año, dando como resultados un mayor nivel de ingresos para su familia.
María sueña con fortalecer y acreditar aún más su negocio, para que tenga permanencia en el tiempo y le garantice una rentabilidad estable para dar a sus hijos una mejor educación escolar y universitaria y disfrutar mejores condiciones de vida en compañía de los que ama.

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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 176
    View loans »
    Colombia Loans Fundraising
  • $13,090,925
    Funds lent in using Kiva
  • 1,933.3
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,300 helped María Olivia to buy goods in bulk (dairy products, cold cuts, beers, soft drinks, and liquor, among others).
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 21, 2013
Listed
Dec 25, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014