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María Del Socorro
María is 45 years old, and a single mother of a 6-year old daughter who was born with a genetic disorder (Down Syndrome). She has provided for her daughter through much sacrifice and love.

In order to earn money to pay for her daughter's medical costs as well as household expenses, she began to work as an independent businesswoman, selling merchandise through catalogs. Her main customers are relatives, neighbours, and friends from the area. She also provides manicure/pedicure services to supplement her family's income.

María is requesting this loan in order to stock up her business with merchandise which will be bought wholesale (body lotions, cosmetics, home decor items, articles of clothing, among others). This will allow her to increase her capital and have a greater variety to offer and satisfy her customers' needs, which will, in turn, increase her sales and her income.

María says that her principle reason for working every day is to strive for the well-being and a good quality of life for her young daughter, and to find a financial balance that will facilitate better opportunities.
View original language description ↓
María, a sus 45 años de edad, es madre soltera de una hija de 6 años que nació con una alteración genética (S. de Down) a la cual ha sacado adelante con mucho sacrificio y amor.
Con el fin de generar recursos para solventar los gastos médicos de su hija y las necesidades básicas del hogar, comenzó a trabajar como comerciante independiente, vendiendo mercancía y productos por catálogo, sus principales clientes son familiares, vecinos y amigos del sector, adicionalmente presta el servicio de manicure y pedicure, para complementar los ingresos para su familia.
Actualmente solicita el apoyo del crédito para comprar surtido de mercancía al por mayor (cremas corporales, cosméticos, artículos de decoración para el hogar, prendas de vestir, entre otros), esto le permitirá capitalizar su negocio y tener más variedad para ofrecer y satisfacer los gustos y requerimientos de sus clientes, dando como resultado un incremento en las ventas y en el nivel de ingresos que percibe por su labor.
María manifiesta que su único propósito por el que trabaja todos los días es velar por el bienestar y la calidad de vida de su pequeña hija y encontrar un equilibrio económico para brindar mejores oportunidades.

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
  • 455
    View loans »
    Colombia Loans Fundraising
  • $14,624,200
    Funds lent in using Kiva
  • 1,936.1
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,550 helped María Del Socorro to buy merchandise wholesale (body lotions, cosmetics, home decor items, articles of clothing, among others.).
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 17, 2013
Listed
Jan 15, 2014
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014