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Luz Elena
Elena is 35 years old, married and a mother of 2 children. Many years ago, she started her own business, an arepa factory in her home. The idea came due to a difficult financial situation that her family found themselves in. Taking advantage of the lessons her mother taught her at a young age, she has been able to generate the income to afford her household expenses. She is hardworking, active, strong and persevering. She works arduous days to generate a big output that will allow her to satisfy the demand. Her main clients are store and restaurant owners of the township she lives in.

She wishes to use the loan to repair the space in which she has her business (change the sand floor for a cement one) and purchase wholesale supplies (corn, charcoal), which will allow her to increase her production and give her clients more confidence in her products since the space will look nicer, improving its recognition in the town.

Elena dreams of financial stability, having the opportunity to expand her business, providing her children with a better education, but she especially hopes to gain enough income to purchase her own home in the near future, giving her family a better life.
View original language description ↓
Elena tiene 35 años de edad, es casada y madre de 2 hijos. Desde hace varios años inició su propio negocio, una fábrica de arepas, que se encuentra ubicada en la casa donde reside, esta idea surgió debido a la difícil situación económica por la que atravesaba su familia, aprovechando los conocimientos que obtuvo de su madre cuando era joven, así ha logrado generar los recursos para solventar las necesidades de su hogar. La cliente es trabajadora, activa, pujante y perseverante. Trabaja arduas jornadas para sacar una producción grande que le permita satisfacer la demanda actual que posee, pues sus principales clientes son propietarios de tiendas y restaurantes del corregimiento donde vive.
El crédito que solicita, desea invertirlo en el arreglo del espacio donde tiene su negocio (cambiar el piso de arena, por cemento) y comprar insumos al por mayor (maíz, carbón), con esto tendrá la posibilidad de incrementar su producción y dará más confiabilidad a las personas que comprar su producto, pues el espacio tendrá una mejor imagen, favoreciendo el reconocimiento del negocio en el corregimiento donde reside. Elena sueña con tener una estabilidad económica más favorable, que le de la oportunidad de hacer crecer su negocio, brindar a sus hijos una mejor educación, pero especialmente, desea generar los ingresos suficientes para adquirir su casa propia en un futuro cercano, brindando a su familia mejores condiciones de vida.

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
  • 312
    View loans »
    Colombia Loans Fundraising
  • $18,193,150
    Funds lent in using Kiva
  • 1,917.8
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Luz Elena complete on-site repairs (changing the floor) and purchase wholesale supplies (corn and charcoal).
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 24, 2013
Aug 26, 2013
Currency Exchange Loss:
Jun 17, 2014