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María Mercedes
María is married and has two children whom she has supported with great hard work. For several years, she has worked as an independent merchant, selling merchandise on credit and special plans. She started this work through a sister who was doing the same thing. Bit by bit she gained knowledge and experience in business management, and then her sister retired and left her all her contacts and clientele. She is now very well-known in the area.
She will invest this loan in the purchase of wholesale merchandise (jeans, underwear, blouses, etc). This will allow her to achieve her sales projection for the Christmas season. She will also have a greater variety to offer her clients and improve her income in order to cover the household costs.
Maria dreams of having her business independent from her family. She continues to work hard so she can rent out a larger storefront with a better image that projects style and attracts more clients. This way, she will be able to benefit from a greater quality of life with her loved ones.
View original language description ↓
María es una mujer casada y madre de dos hijos a los que ha sacado adelante con mucho esfuerzo. Desde hace varios años, se dedica a trabajar como comerciante independiente, vendiendo mercancía por encargo y plan separe; inició en el oficio por medio de una hermana que realizaba la misma labor, poco a poco fue adquiriendo experiencia y conocimientos en el manejo del negocio, luego su hermana se retiró de la labor y ella quedó con todos los contactos y la clientela y ahora ya es reconocida en el sector.
El crédito lo invertirá en la compra de mercancía al por mayor (jeans, ropa interior, blusas, entre otros), esto le permitirá cumplir con su proyección de ventas para la temporada de navidad, además tendrá más variedad para ofrecer a sus clientes y mejorará los ingresos para solventar los gastos familiares.
María sueña con poder independizar su negocio de la unidad familiar, por lo que sigue luchando para poder arrendar un local mucho más amplio y con mejor imagen, que proyecte estilo y atraiga a más clientes; así podrá disfrutar de una mejor calidad 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.

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About Colombia

  • $11,100
    Average annual income
  • 488
    View loans »
    Colombia Loans Fundraising
  • $15,259,900
    Funds lent in using Kiva
  • 1,933.3
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,575 helped María Mercedes to buy wholesale merchandise (jeans, underwear, blouses, and other items).
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 22, 2013
Listed
Dec 25, 2013
Currency Exchange Loss:
Possible
Ended:
May 22, 2014