Consuelo De Jesús
Update on Consuelo De JesúsConsuelo is 67 years old. She is a dignified woman who is admired and respected. She is the single mother of three children, whom she raised and got ahead. Because her spouse abandoned her with out offering any financial support, this woman decided to work for herself and she created her own business making arepas. She does this activity every day from her home and it has given her family food and education.
Today Consuelo is asking for a loan to buy an electric corn grinder. This will allow her to reduce production time and increase her profit margin. She dreams of being able to make her business a great business offering other people employment access.
Es madre soltera de tres hijos, a los cuales educó y sacó adelante. Debido a que su cónyuge la abandonó sin brindarle ningún apoyo económico, esta mujer decidió subemplearse y creó su propio negocio dedicado a la fabricación de arepas, actividad que realiza diariamente desde su casa y con la cual le ha brindado a su familia alimentación y educación.
Consuelo hoy se encuentra solicitando un crédito para la compra de un motor moledor de maíz, lo que le permitirá reducir los tiempos de producción y aumentar el margen de rentabilidad.
Sueña con poder constituir su negocio en una gran empresa en donde pueda ofrecerles a otras personas la oportunidad de acceder al mundo laboral.
Previous Loan DetailsAt 65 years of age, Consuelo is an enterprising woman who uses her wits to get ahead and improve her quality of life. For more than 20 years, Consuelo has produced traditional arepas [corn cakes] from Antioquia, which she sells to her regular customers, neighbors in the area where she is well-k... More from Consuelo De Jesús's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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