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Erika Alejandra
Erika is a 23-year-old entrepreneur. She is married and has child of 4. A while ago, she decided to set up her own shop in order to help her husband with household expenses. She dedicates a corner of her house to this shop, where she sells clothes every day. She keeps taking care of her family as well. The income she derives from her shop pays for all her child's basic needs. Her son is her main reason for keeping on fighting. Erika is determined to do her best in order to strengthen her business a bit more every day, which is why she asks for a loan in order to buy merchandise wholesale (shoes, jeans, blouses, shirts, and jackets) as well as shelves to store and display the clothes. She will thus be able to offer a greater variety of products and to meet customer demand. She is ready to meet the increase in demand that comes with the end of the year and hopefully brings more sales and more income. Erika's goal is to garner more reputation and to buy a shop in a more commercial area, in order to expand to other items such as accessories and cosmetics and conquer new markets. She would like her shop to earn more so as to give her child the best possible education and to enjoy a better life together with her loved ones.
View original language description ↓
Erika es una mujer emprendedora de 23 años de edad, casada y madre de un hijo de 4 años. Hace algún tiempo decidió montar su propio negocio con el ánimo de generar ingresos para apoyar a su esposo con la carga económica del hogar, por ello adecuó un espacio de su casa y montó un pequeño almacén de ropa, en el que trabaja todos los días, sin descuidar su familia, así genera los ingresos para solventar los gastos básicos de su pequeño hijo, quien es el motor principal para seguir luchando día a día.
Su espíritu de superación y sus ganas de fortalecer cada vez más su negocio, la impulsan a solicitar el apoyo del crédito para comprar surtido de mercancía al por mayor (calzado, jeans, blusas, camisas, chaquetas) y una estantería para almacenar y exhibir las prendas; esto le permitirá mejorar la variedad de su inventario para satisfacer las necesidades y gustos de sus clientes; además estará preparada para atender la demanda que se incrementa en la temporada de fin de año; mejorando las ventas y los ingresos que recibe.
Erika manifiesta que su propósito a futuro es poder acreditar bien su negocio y adquirir un local en una zona más comercial, para introducir nuevos artículos como accesorios y cosméticos y así atender un nuevo mercado; generando una mayor rentabilidad para que le permita dar a su hijo una educación con calidad y disfrutar 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
  • 486
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,924.9
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,575 helped Erika Alejandra comprar surtido de mercancía al por mayor (calzado, jeans, blusas, camisas, chaquetas) y una estantería para almacenar y exhibir las prendas.
90% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 27, 2013
Listed
Dec 30, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 18, 2015