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Otilia Del Carmen
Otilia, 39, is a single mother of two children. She lives with her mother and her siblings. She works weekends for a trout farm belonging to the small town she lives in and to add to her income produces meals to sell in the firm where she works taking advantage of having permission to do so.

She’s a kind, humble, hardworking person who strives to move her children forward; they are her main motivation. She’s asking for the loan aiming at using it to buy ingredients to prepare her dishes (meat, vegetables and sauces, among others). In this way, she’ll have the supplies on hand to prepare the meals and satisfy customer demand on days between payday because she’s often lost sales because she was unable to extend credit because she lacked enough capital to stock up on supplies daily.

Otilia dreams with continuing to make progress and to strive with dedication and effort to have a food stand outside the trout farm to earn daily income and be able to continue meeting basic family needs and to see to her children’s well-being and their education.
View original language description ↓
Otilia, con 39 años de edad, es madre soltera de dos hijos, vive con su madre y sus hermanos. Trabaja los fines de semana en una truchera del corregimiento donde reside y para complementar sus ingresos, produce y vende comidas en la empresa donde labora, aprovechando que tiene el permiso para hacerlo. La cliente es una persona amable, humilde y luchadora; se esmera por sacar adelante a sus hijos, quienes son su principal motivación. Solicita el crédito con el interés de invertirlo en la compra de insumos para elaborar los alimentos (carne, verduras, salsas, entre otros) de esta manera tendrá insumos disponibles para preparar los alimentos y satisfacer la demanda de sus clientes en los días que no son quincena, pues muchas veces ha perdido ventas por no tener la posibilidad de abrir créditos debido a que no cuenta con el capital disponible para surtirse diariamente. Otilia sueña con seguir avanzando y luchar con dedicación y esfuerzo para lograr tener un puesto de comidas fijo a las afueras de la truchera, para así tener ingresos a diario y poder continuar solventando las necesidades básicas de su familia y velar por el bienestar y la educación de sus hijos.

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
  • 356
    View loans »
    Colombia Loans Fundraising
  • $18,296,125
    Funds lent in using Kiva
  • 1,891.1
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $325 helped Otilia Del Carmen to buy food making ingredients.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Aug 26, 2013
Sep 24, 2013
Currency Exchange Loss:
Apr 17, 2014