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Luz Milena
Milena, age 31, is a mother of two young children. Since getting married she has done housework with the goal of caring for her family. Her husband has been unemployed for several months, and their household has been gravely effected economically.
With the goal of improving their household income, Milena is requesting a loan so that she can get training in preparing fast food. She and her husband will then work in that area.
She dreams of creating her own business and improving her nuclear family's quality of life, guaranteeing her children a good education.
View original language description ↓
Milena de 31 años, es madre de dos hijos menores de edad. Desde que se casó se ha dedicado a las labores del hogar, con el fin de cuidar de su familia. Desde hace algunos meses su esposo se encuentra desempleado, por lo cual la condición económica de su hogar se ha visto gravemente afectada.
Con el fin de mejorar los ingresos del hogar, Milena se encuentra solicitando un crédito con el fin de capacitarse en la preparación de comidas rápidas y dedicarse en conjunto con su esposo a la actividad.
Sueña con crear su propio negocio y mejorar la calidad de vida de su núcleo familia, garantizándoles a sus hijos una buena educación

Additional Information

More information about this loan

This loan is part of Interactuar's effort to being innovative and high-quality non-financial products to more borrowers.

In addition to credit, the organization provides training in business management, gastronomy, tourism, marketing, design, sales, and other areas. It also advises borrowers on their new and existing businesses, and its food laboratory helps farmers increase their crop yields. Together, all of these services help borrowers gain new skills and optimize their businesses.

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
  • 305
    View loans »
    Colombia Loans Fundraising
  • $18,296,125
    Funds lent in using Kiva
  • 1,834.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $125 helped Luz Milena to get training in preparing fast food.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Apr 26, 2013
May 17, 2013
Currency Exchange Loss:
Nov 18, 2013