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Beatriz Elena
Beatriz is a single mother who has raised her two children by working arduous days where she is exposed to the risks that being a street vendor brings. She has been an independent business person for 35 years, and has a stand selling crafts and other products, located on a street in the center of the city. She works on her own from Monday to Saturday from 12 to 9 p.m., as in the mornings she does her daily household chores.

The advantage of her business is that she can manage her own time and plan her income, however she says she doesn't have Social Security and sees this as a disadvantage.

The loan she is requesting will be used to buy merchandise at wholesale (crafts, leather sandals, belts, and other items). This will allow her to have a greater variety of articles available to sell, and this way satisfy the tastes and needs of her clientele, enabling her to improve her sales and the income she receives from them.

Beatriz says that her aim is to give continuity and permanence to her business, to gradually build it up and formalize it so that it can be more profitable and allow her to improve the living conditions and well-being of her family.
View original language description ↓
Beatriz es una madre soltera que ha sacado adelante a sus dos hijos, trabajando arduas jornadas en las que se expone a los riesgos que trae el trabajo ambulante, pues, desde hace 35 años es comerciante independiente y tiene un puesto de venta de artesanías y productos en cuero, tiene un módulo ubicado en una calle del centro de la ciudad, trabaja sola de lunes a sábado de 12 a 9 pm, pues en las mañanas se dedica a realizar las actividades diarias en el hogar. La ventaja de su negocio es que puede manejar su propio tiempo y programar sus ingresos, sin embargo manifiesta que no cuenta con seguridad social y ve en ello una desventaja.
El crédito que solicita será invertido en la compra de mercancía al por mayor (artesanías, sandalias en cuero, correas, entre otros), esto le permitirá tener disponible más variedad de artículos para ofrecer y satisfacer así, los gustos y necesidades de su clientela, logrando un mejoramiento en las ventas y en los ingresos que de ellas recibe.
Beatriz manifiesta que su propósito es darle continuidad y permanencia en el tiempo a su negocio, ir fortaleciendo y acreditando la labor, para que sea mucho más rentable y le permita mejorar las condiciones de vida y el bienestar de su núcleo familiar.

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.

About Colombia

  • $6,070
    Average annual income
  • 462
    View loans »
    Colombia Loans Fundraising
  • $14,624,200
    Funds lent in using Kiva
  • 1,964.6
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,275 helped Beatriz Elena to buy merchandise at wholesale (crafts, leather sandals, belts, and other items).
94% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 23, 2013
Listed
Jan 20, 2014
Currency Exchange Loss:
Possible
Ended:
Jun 18, 2015