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Asiris Margarita
Asiris is 58 years old and the mother of three children. She has been working as a courtyard manager for a long time and she sells beverages there (soft drinks, beer, juices, etc.) She will use the money from this loan to expand and better stock her business and provide a more comfortable area for her customers, given that many people go there to have fun every day. She also wants to increase her sales and buy tables. This will mean better income and more financial stability for Asiris and her family.
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Asiris tiene 58 años y es madre de 3 hijos, desde hace mucho tiempo trabaja como administradora de canchas de tejo y en este lugar vende bebidas (gaseosas, cervezas, jugos, etc). Con el crédito que solicita ella sueña con ampliar y adecuar mejor su negocio propio para ofrecerle a todos sus clientes un lugar más agradable y confortable para el esparcimiento, dado que día a día allí se reúnen muchas personas para divertirse, también desea aumentar las ventas y comprar mesas. Todo esto representa para Asiris y su familia mayores ingresos y una mejor estabilidad económica.

Additional Information

More information about this loan


By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

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
  • 301
    View loans »
    Colombia Loans Fundraising
  • $13,971,825
    Funds lent in using Kiva
  • 2,045.8
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,950 helped Asiris Margarita to buy tables.
27% repaid
Repayment Term
39 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 31, 2014
Listed
Mar 11, 2014
Currency Exchange Loss:
Possible