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Luz Margarita
Luz Margarita is a hardworking person who has had to overcome great adversities in her life along with her husband, who has been instrumental in offering a good quality of life for their two children. Approximately seven years ago, Luz Margarita opened a general store so that she could contribute financially toward the household expenses since her husband's salary was insufficient. However, she was obligated to close her store about a year ago because of family difficulties. From that point she experienced major challenges.

Luz Margarita reopened her store five months ago, but she lacks the capital to offer her customers a wide variety of products. For this reason, she is now seeking the opportunity to access a loan so that she can buy household products to restock her store and provide her customers with a greater variety of products. This will increase her sales considerably. As a result, her store will continue to grow gradually and return to the successful business that it once was. Her family will also enjoy a good quality of life and greater financial opportunities to make progress.

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Luz Margarita es una persona muy trabajadora que ha tenido que superar grandes adversidades en su vida, para lo cual el acompañamiento de su esposo ha sido fundamental en el ofrecimiento de una buena calidad a sus 2 hijos. Desde hace aproximadamente 7 años Luz Margarita tenía una tienda general con la cual aportaba económicamente en su hogar para el sostenimiento de los gastos, pues el salario que devenga su esposo no es suficiente para esto; sin embargo, hace aproximadamente 1 año se vio en la obligación de cerrar su tienda debido a una gran dificultad familiar que se le presentó y por esto vivió momentos económicos muy difíciles. Desde hace aproximadamente 5 meses quiso volver a abrir su tienda general, pero debido a la falta de capital en el momento no puede ofrecer a sus clientes una gran variedad de productos. Es por esto que ahora Luz Margarita busca que un préstamo le brinde la oportunidad de acceder a la compra de productos de la canasta familiar para así surtir su tienda y poder ofrecer a sus clientes una mayor variedad de productos de modo que pueda incrementar sus ventas considerablemente.
De esta manera su negocio seguirá creciendo poco a poco y retomará el gran negocio que tenía antes, de modo que su familia podrá seguir gozando de una buena 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
  • 318
    View loans »
    Colombia Loans Fundraising
  • $18,147,825
    Funds lent in using Kiva
  • 1,775.0
    Colombia Pesos (COP) = $1 USD
A loan of $1,700 helped Luz Margarita to buy household products for her store.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 11, 2012
May 3, 2012
Currency Exchange Loss:
Jun 2, 2012