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María Lastenia
María is 40 years old and the single mother of 7 children for whom she has struggled fiercely to get them ahead. She has been working for about 7 years as an independent business person selling fast food from a food cart that she bought second-hand. Her work day is from 4 pm to 11 pm, Thursday to Sunday. The other days she works as a domestic in different houses in the area. In this way she earns the revenues needed to educate, cloth and feed her children.

With the aim of strengthening her business she is requesting a loan to buy another food cart in better condition, cooking utensils and the necessary supplies (breads, cold cuts, sauces, soft drinks). This will allow her to improve her working conditions and increase her sales as the tools she has now are in poor shape and give a poor impression to her customers. María dreams of having a her own shop where she could provide better service and high quality products. She wants to position herself better in the market and generate more profit to provide her children with a higher quality of life and well-being.
View original language description ↓
María, a sus 40 años de edad, es madre soltera de 7 hijos, por quienes ha luchado arduamente para sacarlos adelante.
Desde hace aproximadamente 7 años trabaja como comerciante independiente, vendiendo comidas rápidas en un carro de comidas que compró de segunda mano, su jornada de trabajo es de jueves a domingo de 4 a 11 pm, ya que los demás días de la semana se dedica a trabajar como empleada doméstica en diferentes casas de familia de la región, así logra complementar los ingresos para dar educación, alimento y vestido a sus hijos.
Con el fin de fortalecer su negocio, solicita el apoyo del crédito para comprar otro carro de comidas en mejor estado, utensilios de cocina y los insumos necesarios (panes, carnes frías, salsas, gaseosas), esto le permitirá mejorar las condiciones de trabajo y aumentar las ventas, pues los activos que posee actualmente, ya están bastante deteriorados y en mal estado lo que genera una imagen negativa en los comensales.
María sueña con tener su negocio en un local propio, en el que pueda seguir prestando un servicio y productos de excelente calidad, posicionarse más en el mercado y lograr una mayor rentabilidad para dar a sus hijos una mejor calidad de vida y bienestar.

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

  • $6,070
    Average annual income
  • 244
    View loans »
    Colombia Loans Fundraising
  • $13,479,900
    Funds lent in using Kiva
  • 2,052.0
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $975 helped María Lastenia to buy another food cart in better condition, cooking utensils and necessary ingredients (bread, cold cuts, sauces and soft drinks).
92% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 29, 2014
Listed
Mar 9, 2014
Currency Exchange Loss:
Possible
Ended:
Apr 18, 2015