Check out some available loans that are similar to this one!
Cruz Elena
Cruz is a vigorous and active woman, mother to 3 children and the head of the household. She suffered a difficult period after separating from her husband. For eight years she worked as domestic help for a house of Salesian priests.

But in 2012 the opportunity presented itself to sub-lease a shop that is licensed to sell fast food. She took it and little by little has changed it into a deli, including the sales of liquor. The area it is located in is suitable for this activity. She works by herself every day from 10 am until 10 pm and on week-ends one of her daughters helps her. She learned the business by doing it and it has become the only source of income to support her daughters.

The purpose of the loan is to invest in the business, buying supplies wholesale (cold meats, bread, sauces, soft drinks, beer, liquor, etc.). This will allow her to meet the demands and varied tastes of her customers, managing to increase her sales and margin of profit. Cruz's goal is to hold on to her business, make it well-known and position it in the local market, so that it is profitable. This will guarantee her financial stability which she can get her younger daughter ahead and offer a better quality of living.
View original language description ↓
Cruz es una mujer pujante y activa, madre de 3 hijos y cabeza de hogar, luego de atravesar por un difícil momento tras la separación de su esposo.
Durante 8 años trabajó como empleada doméstica en la casa de unos padres salesianos, pero en el año 2012 se le presentó la oportunidad de tomar en subarriendo un local que estaba acreditado para vender comidas rápidas, ella lo tomó y poco a poco lo fue convirtiendo en charcutería e incluyó la venta de licor, pues la zona en la que se encuentra ubicado se presta para tal actividad; trabaja sola todos los días de 10 am a 10 pm y los fines de semana recibe el apoyo de una hija; esta actividad la aprendió de manera empírica y se ha convertido en su única fuente de ingresos para sacar adelante a sus hijos.
El propósito del crédito es invertir en el negocio, comprando surtido al por mayor (carnes frías, panes, salsas, gaseosas, cervezas, licor, entre otros), esto le permitirá satisfacer la demanda y los diversos gustos de sus clientes, logrando aumentar las ventas y el margen de ganancias.
Cruz tiene como meta conservar su negocio, acreditarlo y posicionarlo en el sector, para que sea rentable y le garantice una estabilidad económica con la que pueda sacar adelante a su hija menor y brindar mejor calidad de vida.

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
  • 294
    View loans »
    Colombia Loans Fundraising
  • $13,933,050
    Funds lent in using Kiva
  • 1,924.0
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,300 helped Cruz Elena to buy supplies wholesale (cold meats, bread, sauces, soft drinks, beer, liquor, etc.).
55% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 13, 2013
Listed
Jan 12, 2014
Currency Exchange Loss:
Possible