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María Ofelia
María is a hard-working and active woman who has been able to support her 5 children working hard to bring home the bacon. Her ex-husband left her with all the responsibility and financial burden many years ago. Thanks to her hard work and dedication, she has been able to provide her children with education and they are all professionals now. She has worked as an independent saleswoman for 35 years, selling tools in a mobile stand. Her business is located in a central street, so she has many customers. However, that area also hosts the drugs and prostitution businesses, which does not help her despite being well-known for her experience.

She is requesting a loan to buy tools in bulk (hammers, pliers, rulers, nails, tacks, screwdrivers), which would allow her to offer more variety of products and to improve sales and earnings.

María says that her biggest dream is to obtain her pension of old age and to enjoy a better quality of life with her family.
View original language description ↓
María es una mujer pujante y dinámica, que ha sacado adelante a sus 5 hijos con el sudor de su frente, trabajando arduamente para conseguir el sustento diario, pues su ex esposo la dejó con toda la responsabilidad y la carga económica, desde hace muchos años. Con gran esfuerzo y dedicación logró brindarles educación y hoy en día todos son profesionales.
Durante 35 años ha trabajado como comerciante independiente, en un puesto ambulante de venta de herramientas, su negocio está ubicado en una calle del centro de la ciudad, por lo que tiene gran afluencia de personas, sin embargo, es una zona en la que se enfrenta diariamente a la venta de estupefacientes y prostitución, lo que hace un poco difícil su estancia en el sector, a pesar de ser reconocida por su amplia trayectoria en el mismo punto.
El crédito que solicita lo invertirá en la compra de herramientas al por mayor (martillos, alicates, metros, clavos, puntillas, destornilladores), esto le permitirá tener más variedad de artículos para ofrecer y así mejorar las ventas e ingresos.
María manifiesta que su mayor anhelo es adquirir su pensión por vejez y disfrutar una mejor calidad de vida en compañía de su familia.

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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 275
    View loans »
    Colombia Loans Fundraising
  • $13,826,450
    Funds lent in using Kiva
  • 1,980.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,025 helped María Ofelia to buy tools in bulk (hammers, pliers, rulers, nails, tacks, screwdrivers).
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 24, 2014
Listed
Apr 1, 2014
Currency Exchange Loss:
Possible
Ended:
Sep 25, 2014