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Margesis

Update on Margesis

Margésis 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.
View original language description ↓
Margésis es una joven emprendedora de 20 años de edad, que se dedica a trabajar en su propio negocio, una venta de comidas, labora en dos turnos, en las mañanas ofrece empanadas, buñuelos, palitos de queso y en las noches vende perros, hamburguesas, arepas con todo, entre otros productos. El oficio lo aprendió de su madre y actualmente se encuentra ubicada en un local arrendado donde labora con 3 empleados directos.
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 Details

Margesis, 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 »

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.

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.

About Colombia

  • $6,070
    Average annual income
  • 343
    View loans »
    Colombia Loans Fundraising
  • $14,070,600
    Funds lent in using Kiva
  • 1,950.5
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $525 helped Margesis to purchase wholesale supplies (cold cuts, oil, vegetables, and soda pop).
93% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 7, 2014
Listed
Apr 15, 2014
Currency Exchange Loss:
Possible
Ended:
Feb 20, 2015