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Fanny Elena
Fanny is married and has two children, ages 11 and 6, whom she always has wanted to give a good quality of life. This is why, upon seeing that her husband's income was not enough to support the household expenses and give them a good quality of life, she decided to set up her own business in her house. Making the most of an idle space she had, she set up a general store where she sells staple products.

She started the business approximately a year ago and, thanks to her good service, she has managed to attract a large number of customers for her business. Nevertheless, because her business was set up with very low capital, she has seen that she loses some sales because of the small variety of products she sells in her store. This is why she is looking for a loan to allow her to buy staple products to increase her stock and offer her customers a bigger variety of products.

In this way her business will be able to continue to grow and guarantee some income with which Fanny can contribute economically to the support of her home. In addition, Fanny hopes that her business will allow her to buy her own house and give her two children a better education and better economic stability.
View original language description ↓
Fanny se encuentra casada y tiene 2 hijos de 11 y 6 años de edad, a quienes siempre les ha querido ofrecer una buena calidad de vida. Es por esto que al ver que los ingresos de su esposo no eran suficientes para poder sostener los gastos de su hogar y brindarles una buena calidad de vida, decidió montar su propio negocio desde su casa y aprovechando un espacio ocioso que tenía montó una tienda general donde ofrece productos de la canasta familiar. El negocio lo inició hace aproximadamente 1 año, y gracias a la buena atención que ofrece en este ha logrado captar un gran número de clientes para su negocio; sin embargo, debido a que su negocio fue montado con muy bajo capital, ha visto que pierde algunas ventas por la poca variedad de productos que ofrece en su tienda, es por esto que busca que un préstamo le permita comprar productos de la canasta familiar y así aumentar su surtido para ofrecer una mayor variedad de productos a sus clientes.

De esta manera su negocio podrá seguir creciendo y garantizando unos ingresos con los cuales Fanny contribuya económicamente para el sostenimiento de su hogar. Además, Fanny espera que su negocio le permita acceder a la compra de su casa propia y a brindarles a sus 2 hijos una mejor educación y una mejor estabilidad 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
  • 231
    View loans »
    Colombia Loans Fundraising
  • $16,925,975
    Funds lent in using Kiva
  • 1,773.0
    Colombia Pesos (COP) = $1 USD
A loan of $1,150 helped Fanny Elena to buy staples to increase her stock and have a greater variety of products for her customers.
Repayment Term
15 months (Additional Information)
Repayment Schedule
Mar 26, 2012
May 2, 2012
Currency Exchange Loss:
Jun 1, 2012