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Luz Mariela
Luz is an extremely enterprising and determined woman. After she separated from her ex-husband, she took over all the household duties and was left to care for her two children who were, at that time, minors. She has had a grocery store for 14 years. This has enabled her to bring up her children with all the courage that only a single mother can have.

She has big plans for the future of her business and her family, this is why she struggles every day to achieve her dream of a peaceful and prosperous life.

She is asking for a loan to buy a motorcycle and make home deliveries to her customers. In this way she can provide a better service, increase her sales significantly and see this reflect positively in her income.

Her children are now adults but she has never changed the love and care that she gives them.
View original language description ↓
Luz es una mujer extremadamente emprendedora y muy guerrera.
Desde que se separo del hombre que era su esposo se hizo cargo de todas las obligaciones del hogar y quedo al cuidado de sus dos hijos en ese entonces menores de edad.
Ella tiene una tienda de abarrotes desde hace 14 años, con la que ha sacado adelante a sus hijos con todo el coraje que solo una madre soltera puede tener.
Tiene grandes planes para el futuro de su negocio y su familia, por eso lucha día a día para alcanzar ese sueño de tener una vida prospera y tranquila.
Ella solicita un préstamo para comprar una motocicleta y realizar domicilios a sus clientes. De esta forma podrá ofrecer un mejor servicio y aumentará significativamente sus ventas viéndose reflejado positivamente en sus ingresos.
Sus hijos ya son mayores pero no ha cambiado nunca el amor y el cuidado que les brinda.

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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 224
    View loans »
    Colombia Loans Fundraising
  • $12,881,350
    Funds lent in using Kiva
  • 1,931.4
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,600 helped Luz Mariela to buy a motorbike in order to make home deliveries.
29% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 16, 2014
Listed
May 27, 2014
Currency Exchange Loss:
Possible