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Carmen Julia
Carmen, 64, is married and mother of three children. Since a very young age she’s worked selling milk, cheese and ‘quesito’ [Colombian soft cheese] that she makes herself. She learned this activity from her mother since they lived on a dairy farm. In this way, Carmen has earned income sufficient to provide daily sustenance at home and to move her children forward.

Carmen’s a very hardworking woman who spends many hours a day manufacturing her products to then sell and earn income. She’s currently asking for the loan to do some site improvements to the space she works in, to buy a stainless steel table and a refrigerator to store the products she makes prior to selling them. This is how Carmen seeks opportunities day to day to reach her main dream of making home improvements to have better quality of life and a tranquil old-age.
View original language description ↓
Carmen, a sus 64 años de edad está casada y es madre de 3 hijos. Desde muy joven se ha dedicado a la venta de leche, queso y quesito que ella misma produce, esta actividad la aprendió de su madre ya que vivían en una finca donde tenían ganado lechero. De esta forma, Carmen ha obtenido los recursos suficientes para llevar el sustento diario a su hogar y sacar adelante a sus hijos. Carmen es una mujer muy trabajadora, dedica muchas horas al día en la elaboración de sus productos y luego los vende para generar ingresos. Actualmente solicita el crédito para realizar unas mejoras en el espacio donde trabaja, comprar una mesa en acero inoxidable y una nevera para almacenar los productos elaborados, mientras los distribuye. Es así como Carmen día a día, busca la oportunidad de alcanzar su principal sueño que es mejorar la estructura de su hogar, de esta forma podrá tener una mejor calidad de vida y una vejez tranquila.

Additional Information

More information about this loan

By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

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
  • 300
    View loans »
    Colombia Loans Fundraising
  • $17,939,850
    Funds lent in using Kiva
  • 1,881.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Carmen Julia to buy a stainless steel table, a refrigerator and to make site improvements.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 21, 2013
Jul 24, 2013
Currency Exchange Loss:
Dec 17, 2014