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Carmen Elida
Carmen is a very enterprising person because she noted a need that wasn’t being met in her town and decided to take it on by crating her own business. Carmen rents out washing machines to people in her town because very few people have these appliances in their homes. In this way she generates income that helps support her home where she lives with her husband and six children.

Carmen started the business about five years ago and it’s been growing rapidly thanks to the good service she offers her customers. Currently, demand is higher than Carmen’s able to meet and this is why she’s looking for a loan that will make it possible for her to buy three washing machines to increase capacity and be able to meet all customer demand.

In this way her monthly income will increase considerably because she will be able to meet all demand for her services. In addition, she will be able to continue generating income to offer her family a better quality of life and increased opportunities for making progress.
View original language description ↓
Carmen es una persona muy emprendedora, pues observó una necesidad que no estaba siendo satisfecha en su municipio y decidió atenderla con la creación de su negocio. Carmen alquila lavadoras a las personas de su municipio, ya que en este muy pocas personas tienen este elemento en el hogar, y de esta manera genera ingresos con los cuales contribuye al sostenimiento de su hogar, donde convive con su esposo y sus 6 hijos. Carmen inició hace aproximadamente 5 años con este negocio y ha venido creciendo rápidamente gracias al buen servicio que ofrece a sus clientes. Actualmente, la demanda por su servicio es mayor que lo que puede ofrecer Carmen, por lo que busca que un préstamo le brinde la oportunidad de acceder a la compra de 3 lavadoras para poder aumentar su capacidad y así poder atender todos los pedidos de sus clientes.

De esta manera sus ingresos mensuales podrán aumentar considerablemente, pues tendrá la oportunidad de atender a toda la demanda por sus servicios. Además podrá seguir generando ingresos con los cuales podrá ofrecerle a su familia una mejor calidad de vida y mayores oportunidades económicas para progresar.

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
  • 400
    View loans »
    Colombia Loans Fundraising
  • $18,296,125
    Funds lent in using Kiva
  • 1,772.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,425 helped Carmen Elida to buy three washing machines.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Mar 26, 2012
May 1, 2012
Currency Exchange Loss:
Jul 19, 2013