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Fady Argenis
At 32 years old, Fady is an enterprising woman who does manufacturing for third parties. Five years ago she opened her own mini-factory with the goal of supporting her two children. She works each day from 8:00 am to 9:00 pm with much dedication since her big dream is to be able to give her two children a better quality of life and to establish her business in the market. For this reason she knows she has to speed up her manufacturing process to improve sales, but she needs to have a machine that saves production time. She doesn’t have enough money to buy this machine so she’s asking for a loan to make this purchase, improve sales, increase income, and stabilize her financial situation.
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A sus 32 años de edad Fady es una mujer emprendedora que se dedica a la confección a terceros, desde hace 5 años monto su propia microempresa, con la ilusión de sacar a sus 2 hijos adelante trabaja todos los días de 8:00 a.m. a 9:00 p.m. con gran dedicación pues su mayor sueño es poder ofrecerle a sus 2 hijos una mejor calidad de vida y posicionar su negocio en el mercado, para ello es conciente que debe agilizar sus procesos de producción para mejorar las ventas, pero es necesario tener una máquina que le acorte el tiempo en la confección, pero ella no cuenta con el monto de dinero necesario para comprar esta máquina por lo que solicita un crédito con el cual hacer esta compra, mejorar las ventas, incrementar sus ingresos y estabilizar su situación económica.

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

  • $11,100
    Average annual income
  • 315
    View loans »
    Colombia Loans Fundraising
  • $18,193,150
    Funds lent in using Kiva
  • 1,878.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Fady Argenis to buy a sewing machine to speed up the manufacture process.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Oct 18, 2011
Oct 26, 2011
Currency Exchange Loss:
Nov 16, 2012