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Mónica Cristina
Mónica is married and has one son, 11-years-old, to whom she has always wanted to offer a good education. This is why she has always been linked to working in order to generate income with the intention of contributing financially to maintaining the household expenses and thus having a better quality of life in her home.

She has been working for about three years with a friend in a shop where they have also sold fast food, before that she worked for a florist company and in a business that sold eggs. But now she is unemployed and this is why she wants to take advantage of her experience selling fast food in order to set up her her own business and thus continue to guarantee household income with which she would be able to contribute financially to improving the quality of life for her husband and her son. It is with this purpose that she seeks a loan that will offer her the opportunity to purchase ingredients for preparing fast food and thus set up her business of selling fast food.

In this manner she will be able to continue having income and her family will continue having a good quality of life. Furthermore, little by little she will be able to accomplish her dream of getting her child ahead in life and offering him a good education and in the future the access to a university education.
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Monica se encuentra casada y tiene un hijo de 11 años de edad a quien siempre le ha querido ofrecer una buena educación, es por esto que siempre ha estado vinculada trabajando para generar ingresos con la intención de contribuir económicamente para el sostenimiento de los gastos de su hogar, y así tener una mejor calidad de vida en su hogar. Hace aproximadamente 3 años trabajó en una tienda con una amiga donde tenían también la venta de comidas rápidas, posteriormente trabajó en una empresa de floristería y en una empresa de venta de huevos; pero actualmente se encuentra desempleada y es por esto que quiere aprovechar su experiencia de venta de comidas rápidas para montar su propio negocio y así seguir garantizando en su hogar los ingresos con los cuales pueda contribuir económicamente para mejorar la calidad de vida de su esposo y su hijo. Es con esta finalidad que busca que un préstamo le brinde la oportunidad de acceder a la compra insumos para la preparación de comidas rápidas y así montar su negocio de venta de comidas rápidas.
De esta manera podrá seguir teniendo unos ingresos y su familia seguirá teniendo una buena calidad de vida. Además, podrá poco a poco ir cumpliendo su sueño de sacar su hijo adelante y brindarle una buena educación y en un futuro el acceso a una educación universitaria.

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
  • 237
    View loans »
    Colombia Loans Fundraising
  • $16,895,775
    Funds lent in using Kiva
  • 1,768.0
    Colombia Pesos (COP) = $1 USD
A loan of $850 helped Mónica Cristina to buy ingredients for the preparation of fast food and thus set up her business of selling fast food.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Apr 24, 2012
Jun 1, 2012
Currency Exchange Loss:
Jul 1, 2012