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Mónica Andrea
Mónica is an enterprising and active woman who is 36-years old. She had earned her living working in different stores but is currently unemployed. Her family is going through a financial crisis, which inspired her to start her own business. She has a paper-goods store set up in her home. And advantage she has is that the neighborhood she lives in is close to a school and in a commercial area. All of this together has motivated Mónica to request a loan, with which she will purchase display cases, shelving and wholesale stock (notebooks, pencils, bookmarks, cardboard and other items). She will then be able to start her new, fruitful project, with which she hopes to generate enough income to help her husband carry the burden of the household finances. Mónica, with her tenacity and discipline, wants to work hard to get her business ahead and get it into a market. Then she will have the ability to improve her standard of living and her family's well-being.
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Mónica es una mujer emprendedora y activa de 36 años de edad, que se ha ganado la vida trabajando como empleada en diferentes almacenes pero, actualmente se encuentra desempleada y su familia está pasando por una crisis económica, esto la impulsa a iniciar su propio negocio, una papelería que estará ubicada en su vivienda, en la que cuenta con la ventaja de estar cerca de una institución educativa y es una zona muy comercial en el barrio donde reside. Esto la motiva para solicitar el apoyo del crédito con el que comprará vitrinas, estanterías y surtido al por mayor (cuadernos, lápices, marcadores, cartulina, entre otros), así podrá dar inicio a su nuevo proyecto productivo con el que espera generar buenos recursos para apoyar a su esposo con la carga económica del hogar. Mónica con su tenacidad y disciplina quiere trabajar arduamente para sacar adelante su negocio y posicionarlo en el mercado, de esta forma tendrá la capacidad de mejorar las condiciones de vida y bienestar familiar.

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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 299
    View loans »
    Colombia Loans Fundraising
  • $13,783,825
    Funds lent in using Kiva
  • 2,045.0
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,950 helped Mónica Andrea to purchase display cases, shelving and wholesale stock (notebooks, pencils, bookmarks, cardboard and other items).
44% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 13, 2014
Listed
Mar 22, 2014
Currency Exchange Loss:
Possible