Update on Adriana MaríaAdriana is a modest, hardworking woman, who is 40 years old and the mother of three children. A year ago, she started a store on her own in a town near the city of Medellín. She sells soft drinks, sweets, food and a variety of high consumption products. She intends to use her loan to purchase a freezer and different products for her business since she now has few items due to the lack of money to buy more. She used the money she had to build the shop where her business is located.
Adiana dreams of running a successful business, since it is located at the edge of a main, heavily traveled road. This will also improve her family’s income.
Adriana sueña con acreditar su negocio, ya que está ubicado al borde de una vía principal muy transitada y mejorar los ingresos para el sustento de su familia.
Previous Loan DetailsAdriana María is 39 years old and completely committed to her family. She is motivated to enjoy and share every moment of her life with her son and husband. After her husband suffered accident at work, Adriana had to take control of the household and generate an income to pay for food and edu... More from Adriana María's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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