Olga


Status: Paid Back

$650.00   Loan Request
$650.00   Paid Back

About the Entrepreneur

(For privacy reasons, the Field Partner has requested that last name be undisclosed)
Name: Olga
Location: Huancayo, Peru
Activity: Textiles

About the Loan

Loan Amount: $650.00
Loan Use: Buy fabric to sew clothing
Repayment Term: 10 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Jan 7, 2009
Date Disbursed: Dec 12, 2008
Date Funded:Jan 7, 2009
Loan Ended:Sep 15, 2009

About the Country

Country:Peru
Avg Annual Income:$6,715.00
Currency:Peru Nuevos Soles (PEN)
Exchange Rate:3.0915 PEN = 1 USD



Olga is 41 years old and married with five chidren. She has been selling clothing for the past three years. In this time, not only has her business grown, she has also started sewing a variety of items herself according to orders placed by her customers. She sews the clothing in a small workshop in her home, which allows her to work with ease while still caring for her young children. Her husband helps her with the sewing, so the couple tries to fill all of the orders together. He is in charge of distribution. When there are few orders, they both go to local markets to sell their stock of already made clothing, which they keep in their home, so that they can overcome the difficult moments that arise during some months.

This is Olga's second loan from Microfinanzas PRISMA, and she has always been very punctual with all of her payments as well as with activities within her village bank. She plans to use this loan to buy fabric to use for an order of sweaters she is working on.

Translated from Spanish by Cynthia McMurry, Kiva Volunteer


Olga tiene 41 años, es casada, vive con su esposo y sus cinco hijos. Se dedica a la venta de ropa desde hace 3 años, tiempo en que esta actividad le ayudó no solo a crecer en su negocio, sino también que ahora ella misma confecciona diversos modelos de prendas, las cuales tiene como pedidos, estas confecciones las realiza en el pequeño taller que tiene en su hogar, donde le resulta más fácil trabajar y no descuidar a sus menores hijos. Gracias a que su esposo coopera en las confecciones, ambos tratan de atender todos los pedidos, encargándose él de la distribución, pero cuando resultan escasos los pedidos, salen a las ferias a vender algunas prendas confeccionadas que tienen de reserva en casa, para no tener que pasar necesidad y apaciguar el mal momento que hay en algunos meses. Olga esta en su segundo crédito con MFP, y siempre mostró puntualidad en sus pagos y en todas las actividades que realiza su banco comunal. El dinero solicitado será invertido en la compra de las telas que requiere para confeccionar unos chalecos que tiene como pedido.

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Journal entries for Olga


Loan has been disbursed
 
Entrepreneur: Olga
Location: Huancayo, Peru

Thank you for your loan. It has been disbursed to Olga by Microfinanzas PRISMA in Peru. We are excited to watch this business grow. Over the 8 months of this loan, Microfinanzas PRISMA will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Huancayo, Peru
Jan 8, 2009
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Kiva Help Repayment Schedule for Olga

  Expected Repayments Actual Repayments Comments
March 2009 $81.25 $81.25 Repayment Received
April 2009 $81.25 $81.25 Repayment Received
May 2009 $81.25 $81.25 Repayment Received
June 2009 $81.25 $81.25 Repayment Received
July 2009 $81.25 $81.25 Repayment Received
August 2009 $81.25 $81.25 Repayment Received
September 2009 $81.25 $81.25 Repayment Received
October 2009 $81.25 $81.25 Repayment Received