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Alba Ruth
Alba is a 45-year-old single mother who has been able to forge ahead with her two children with great effort and dedication. She is known in her trade for her friendliness and her perseverance in her work day after day. As a result, she has been able to move forward and overcome the obstacles that she has encountered along they way.

Throughout her productive life, Alba has worked as an employee at different stores in the town where she lives. This was how she gained the experience and knowledge that is necessary for managing retail businesses. For this reason, she became independent and started her own variety store where she offers household decorations, personal accessories, sweets, materials and supplies for making accessories, religious articles, and gifts for all occasions. In addition, Alba provides services such as clothing repair. This includes putting on zippers, attaching tags, and hemming trousers and jeans. As a result, she is able to generate extra income for meeting basic household needs.

Alba says that her main goal is to strengthen and expand her business. For this reason, she works tirelessly to accomplish her mission and is constantly looking at different alternatives that will help her continue advancing. Obtaining a loan is an opportunity to make her goal possible. The money will be used to buy inventory in bulk such as accessories, decorative items, sweets, greeting cards, and other items. Since she will be able to restock, Alba can satisfy the demands and tastes of her customers. This will lead to increased sales and eventually more income that will give Alba the ability to provide a better quality of life and improved well-being for her family.
View original language description ↓
Alba es una madre soltera de 45 años de edad, que con gran esfuerzo y dedicación ha sacado adelante a sus dos hijos.
Es reconocida en el sector por su amabilidad y por la tenacidad con la que trabaja día a día para salir adelante, sobrepasando los obstáculos que se le presentan.
Durante su vida productiva trabajó como empleada en diferentes almacenes del municipio donde reside, allí obtuvo la experiencia y el conocimiento necesario en el manejo de negocios comerciales; esto la motivó a independizarse e iniciar su propio almacén de variedades, en el que ofrece artículos decorativos para el hogar, accesorios de bisutería, dulces, artículos e insumos para confecciones y para elaborar accesorios, imágenes religiosas y todo tipo de detalles para toda ocasión; además presta servicios adicionales de arreglo de prendas de vestir como poner cierres, marquillas y coger el ruedo de los pantalones y jeans; esto le genera ingresos adicionales con los que solventa las necesidades básicas en el hogar.
Alba manifiesta que su principal sueño es fortalecer y ampliar su negocio, por ello lucha incansablemente para lograrlo y siempre está en constante búsqueda de alternativas que le permitan seguir avanzando, por ello encuentra en el crédito una oportunidad para hacerlo; pues con el dinero comprará surtido al por mayor (accesorios, artículos decorativos, dulces, tarjetería, entre otros), esto le permitirá abastecerse para satisfacer la demanda y los gustos de su clientela, haciendo que las ventas se incrementen y por ende los ingresos que recibe; así estará en la capacidad de dar a su familia una mejor calidad de vida y bienestar.

Additional Information

More information about this loan


By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

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

  • $11,100
    Average annual income
  • 496
    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 $4,175 helped Alba Ruth to buy accessories, decorative items, sweets, greeting cards, and other items to sell in her store.
95% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 27, 2013
Listed
Dec 30, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 20, 2015