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Cielo Maria
Cielo began this business with her husband ten years ago and initially offered only a few products. But over time, the market has been demanding a greater variety and now her business is a miscellany where she sells all kinds of products. Some time ago, her husband left her and she remained in charge of the business and the care of her three children. With great effort, she was able to get her family ahead. The disadvantage of the business is that it is in very poor condition, but Cielo is looking for a loan to make repairs in her place of business and in this way, offer her customers better service. Her dream is to have a larger business, separate from her house, so that she will have a better business and her three children will have a better quality of life at home.
View original language description ↓
Cielo inició hace unos 10 años con este negocio junto a su esposo y en un principio solo ofrecían unos cuantos productos, pero con el paso del tiempo el mercado ha venido demandando mayor variedad de productos y ahora su negocio es una miscelánea donde vende toda clase de productos. Hace un tiempo su esposo la abandonó y ella ha quedado a cargo del negocio y el cuidado de sus 3 hijos, y con mucho esfuerzo ha podido sacar su familia adelante. El negocio tiene la desventaja de que está en muy mal estado, por esto Cielo busca un préstamo para realizar arreglos locativos en el lugar de trabajo y así poder ofrecer una mejor atención a sus clientes.

Su sueño está en poder tener un negocio más amplio y separarlo de su casa, para poder tener un mejor negocio y también una mejor calidad de vida para sus 3 hijos en el hogar.

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
  • 1,797.5
    Colombia Pesos (COP) = $1 USD
A loan of $1,125 helped Cielo Maria to make repairs in her place of business.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Sep 27, 2012
Nov 1, 2012
Currency Exchange Loss:
Nov 30, 2012