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María Regina
María is a hard-working mother of 6 children. She takes care of her store selling basic food items and recharging cellphones. She also buys coffee that her neighbors grow with the aim of increasing her revenues and contributing to the household expenses.

María will invest the loan in buying coffee to sell to the coffee growers' cooperative. She dreams of improving her quality of living and to continue to contribute financially to her family.
View original language description ↓
María es una mujer trabajadora, madre de seis hijos, quien se dedica a atender su tienda de productos básicos de la canasta familiar y recarga de celulares; adicionalmente compra café que cultivan sus vecinos, con el fin de mejorar sus ingresos y aportar a los gastos familiares. María invertirá el crédito en la compra de café, para comercializarlo en la cooperativa de caficultores y sueña con mejorar su calidad de vida y seguir aportando económicamente a su familia.

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.

About Colombia

  • $6,070
    Average annual income
  • 147
    View loans »
    Colombia Loans Fundraising
  • $12,811,350
    Funds lent in using Kiva
  • 1,964.2
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,050 helped María Regina to buy coffee from her neighbors to sell to a coffee cooperative.
31% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 28, 2014
Listed
Apr 9, 2014
Currency Exchange Loss:
Possible