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Magdalena is married and has 11 children whom she has managed to get ahead through great effort; providing them with all they need. In order to contribute financially to her household, she has a bakery where she also offers family products and some snacks. She learned to do this thanks to a course she took and then she moved forward with her own business and grew it little by little. Currently her oldest children help at the bakery and this allows her to provide good service to her customers, which are constantly increasing in numbers, thanks to the quality of her products. Because she started her bakery with low capital, she doesn’t have sufficient production capital to be able to satisfy all of her customer demands, so now that the business is growing, she is asking for a loan that will allow her to buy supplies so that she can prepare the products she offers in her bakery.

In this way she can continue getting ahead and in this way be able to have a good quality of life in her home. She will all also continue to guarantee her necessary income so that her young children can continue in school and be able to get ahead.
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Magdalena se encuentra casada y tiene 11 hijos a quienes con mucho esfuerzo ha logrado sacar adelante brindándoles todo lo necesario, y para contribuir económicamente en su hogar tiene una panadería donde también ofrece productos de la canasta familiar y algunos snack. La actividad la aprendió gracias a un curso y así sacó adelante su propio negocio, y poco a poco ha venido creciendo. Actualmente sus hijos mayores le colaboran en su panadería y esto le permite tener una muy buena atención a sus clientes, los cuales cada vez vienen aumentando gracias a la buena calidad de sus productos. Debido a que su panadería la montó con muy bajo capital, aún no cuenta con suficiente capacidad de producción para poder satisfacer toda la demanda en su panadería, por esto ahora que viene creciendo cada vez más busca un préstamo que le permita comprar insumos que requiere para la preparación de los productos que ofrece en su panadería.

De esta manera logrará seguir saliendo adelante y así poder tener una buena calidad de vida en su hogar. Además, seguirá garantizando los ingresos necesarios para que sus hijos menores sigan estudiando y puedan salir adelante.

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
  • 250
    View loans »
    Colombia Loans Fundraising
  • $17,876,725
    Funds lent in using Kiva
  • 1,807.5
    Colombia Pesos (COP) = $1 USD
A loan of $850 helped Magdalena to buy supplies.
Repayment Term
17 months (Additional Information)
Repayment Schedule
Jun 13, 2012
Jul 9, 2012
Currency Exchange Loss:
Aug 8, 2012