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Erika Julieth
Erika is a young entrepreneur who opened a general store a few years ago looking to improve the economic condition her household had when she lived with her parents. Now that she’s married and has two children, this is a source of income that allows her to help her husband maintain a better quality of life at home and to have better opportunities for economic progress.

Despite not having much capital, her business has moved forward thanks to her great effort and she’s been increasing the variety of products she has available for her customers. Because she’s gotten much competition with similar stores opening up locally, Erika wants to stand out from the competition in order to retain her customers which is why she’s seeking a loan to buy basic staple items to diversify her inventory of products on sale to her customers to overcome the competition that’s arisen in her neighborhood.

Her greatest dream is to provide her two children with a quality education and a future that’s economically stable so that they can get ahead. She also dreams with her business growing and in future becoming a source of income that will allow them to progress economically.
View original language description ↓
Erika es una joven emprendedora que desde hace unos años montó una tienda general en busca de mejorar la condición económica que tenía en su hogar cuando convivía con sus padres. Ahora que se encuentra casada y tiene 2 hijos, esta es una fuente de ingresos que le permite contribuir económicamente junto con su esposo para que en su hogar puedan tener una mejor calidad de vida y mayores oportunidades económicas para progresar. A pesar de que no cuenta con un gran capital, su negocio lo ha sacado adelante con un gran esfuerzo y esto le ha permitido venir aumentando la variedad de productos que ofrece a sus clientes. Debido a que en el sector le han puesto mucha competencia abriendo tiendas de este mismo tipo, Erika requiere diferenciarse de la competencia para poder conservar sus clientes; es por esto que busca un préstamo para comprar productos de la canasta familiar con los que pueda diversificar los productos que ofrece a sus clientes y así superar la competencia que le han puesto en el sector.

Su mayor sueño es brindarle a sus 2 hijos una educación de buena calidad y poderles ofrecer un futuro económico estable con el que puedan salir adelante. También sueña con que su negocio crezca y en un futuro pueda ser una fuente de ingresos que les permita progresar económicamente.

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
  • 306
    View loans »
    Colombia Loans Fundraising
  • $18,216,850
    Funds lent in using Kiva
  • 1,830.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Erika Julieth to buy basic staples to stock her store.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jul 19, 2012
Sep 3, 2012
Currency Exchange Loss:
Mar 19, 2014