Update on MargesisMargésis is an enterprising young woman, age 20, who works in her own food sales business.
She works two shifts: in the morning she offers empanadas, buñuelos (a sweet fritter), and palitos de queso (cheese sticks wrapped in dough and fried); and at night she sells hot dogs, hamburgers, arepas con todo (corn cakes that are folded and stuffed with a variety of meats, vegetables, etc.), and other products. She learned this occupation from her mother. Currently she is located in a rented establishment, where she works with three full-time employees.
She will invest the loan that she has requested in the purchase of wholesale supplies such as cold cuts, oil, vegetables, and soda pop. This will allow her to stay well-stocked, in order to satisfy the current demand and please her diners with the tasty food that she offers. This way, she will be able to benefit her family’s finances.
Margésis says that her biggest goal is to grow her business so that it will be profitable and allow her to pay tuition at the university, as she dreams of being a professional in order to improve her quality of life and support her family economically.
El crédito solicitado lo invertirá en la compra de insumos al por mayor (carnes frías, aceite, verduras, gaseosas), esto le permitirá mantener buen surtido para satisfacer la demanda actual y deleitar a sus comensales con las delicias que ofrece, así logrará beneficio para su economía familiar.
Margésis manifiesta que su mayor anhelo es hacer crecer su negocio para que sea rentable y le permita pagar los estudios universitarios, pues sueña con ser una profesional para así mejorar su calidad de vida y apoyar económicamente a su familia.
Previous Loan DetailsMargesis, 20, is a young entrepreneur working in her own business, a fast-food stand she opened about two years ago taking advantage of her mother’s teachings who has been in this business for many years. She works Thursday to Sunday selling ‘salchipapas’ [fried potatoes with fried sausages], ... More from Margesis's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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