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Mónica Yazmín
Mónica is an active and driven woman. She is 31 years old and lives with her husband and their two children, aged 6 and 10. For several years, she has sold food that she prepares herself, such as tamales and blood sausage. She learned this trade from her mother, who works with her every weekend preparing and selling the food. In addition, every Wednesday, they fill special orders at the business where her husband works. This way, they are able to generate resources to contribute to the family budget, and she has the chance to spend more time with her children.

She is asking for the loan to buy a freezer and ingredients wholesale (vegetables, meat, chicken, grains, and more). This will allow her to have more space to store her products and be able to prepare and deliver her orders in a timely manner. This will benefit her sales and her income. Mónica dreams of having her business in a locale open to the public where she can have a bigger flow of customers and thus improve the profitability of her work. This will guarantee financial stability to give her children a good education and enjoy a better quality of life with her family.
View original language description ↓
Mónica es una mujer activa y pujante, a sus 31 años de edad, vive con su esposo y sus dos hijos de 6 y 10 años.
Desde hace varios años se dedica a vender comida que ella misma prepara como tamales y morcilla, el oficio lo aprendió de su madre quien le colabora cada fin de semana en la preparación y venta de los productos y, además todos los miércoles le hacen encargos especiales en la empresa donde labora su esposo, así logra generar recursos para aportar a la economía familiar, teniendo la oportunidad de poder pasar más tiempo con sus hijos.
El crédito solicitado lo invertirá en la compra de un congelador e insumos al por mayor (verduras, carnes, pollo, granos, entre otros), esto le permitirá tener más espacio para el almacenamiento de los productos y podrá cumplir con la preparación y entrega oportuna de los pedidos, con lo que se beneficiarán sus ventas e ingresos.
Mónica sueña con tener su negocio en un local abierto al público en el que pueda atender mayor flujo de clientes y así mejorar la rentabilidad de su labor, garantizando así una estabilidad financiera para dar una buena educación a sus hijos y disfrutar con su familia de una mejor calidad de vida.

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.

About Colombia

  • $6,070
    Average annual income
  • 175
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,973.8
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $325 helped Mónica Yazmín to buy a freezer and some ingredients wholesale (vegetables, meat, chicken, grains, and more).
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 26, 2014
Listed
Apr 5, 2014
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014