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María Alejandra
María is a young woman who has worked in various clothing stores in the city of Medellín, but now she wants to open her own business. She is going to use this loan to buy display cases and merchandise (ladies’ and men’s clothing) in order to get her business started. Her goal is to earn a higher income and help her family. María’s dream is to spread out her business and open various clothing stores in different parts of the city.
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María es una joven que ha trabajado en diferentes almacenes de ropa en la ciudad de Medellín, pero ahora quiere independizarse y va a utilizar el crédito para comprar vitrinas y mercancía (ropa de dama y caballero), para iniciar su negocio, con el fin de generar mayores ingresos y ayudar a su familia. El sueño de María es extender su negocio y montar varios almacenes de ropa en distintos sectores de la ciudad.

Additional Information

More information about this loan

By supporting this loan, you're helping a borrower launch a new business!

This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.

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

  • $11,100
    Average annual income
  • 468
    View loans »
    Colombia Loans Fundraising
  • $15,266,825
    Funds lent in using Kiva
  • 2,052.0
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,450 helped María Alejandra to buy display cases and merchandise (ladies' and men's clothing).
92% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 30, 2014
Listed
Mar 11, 2014
Currency Exchange Loss:
Possible
Ended:
Jun 18, 2015