Nancy


Status: Paying Back

$475.00   Loan Amount
88% repaid

About the Entrepreneur

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

About the Loan

Loan Amount: $475.00
Loan Use: Purchase of a knitting machine
Repayment Term: 11 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Mar 22, 2009
Date Disbursed: Feb 25, 2009
Date Funded:Mar 22, 2009

About the Country

Country:Peru
Avg Annual Income:$6,715.00
Currency:Peru Nuevos Soles (PEN)
Exchange Rate:3.1790 PEN = 1 USD



Nancy, 35, lives with her husband and 2 children in their parents' house. For 4 years she has been knitting various articles of clothing. What she makes the most are sweaters, she can make 4 per week depending on the size and the complexity of stitches that she uses. She undertakes this activity in the comfort of her home, without neglecting her children. Once she finishes knitting, with the help of her friends she sends them to be sold in other cities, thus gaining earnings from her own effort.

Nancy considers her business to be profitable because the wool costs less than the value of the handwork. The decoration of her articles qualifies as true artisan work because she does not use electrical energy; nonetheless, further on she would like to produce in greater quantity and start up a textile factory.

This is her second loan through MFP, and she commits herself to keep working in unity with her group. The money she is currently requesting is to buy a knitting machine costing 2500 soles. Only part of the cost is covered by the requested loan, the balance comes from her own savings.

Translated from Spanish by Susan Sanford, Kiva Volunteer


Nancy tiene 35 años, vive con su esposo y sus 2 hijos en casa de sus padres. Desde hace 4 años se dedica al tejido de diversas prendas de vestir, lo que más elabora son chompas, en una semana puede hacer 4, dependiendo del tamaño y la complejidad de los puntos que utiliza. Esta actividad la desarrolla en la comodidad de su casa, sin descuidar a sus hijos, una vez que termina de tejer, por medio de sus familiares la llevan a vender a otras ciudades, así obtiene ganancias por su esfuerzo. Nancy considera rentable su negocio porque cuesta menos la lana que la mano de obra y la elaboración de sus tejidos es de manera artesanal por lo que no utiliza energía eléctrica; sin embargo más adelante quiere producir en mayores cantidades e implementar un taller textil. Este es su segundo préstamo con MFP, y se compromete a seguir trabajando de manera unida en su grupo. El dinero que ahora solicita es para la compra de una máquina de tejer, valorizada en 2500 soles, este préstamo solo cubre una parte de lo que solicita, la otra para es de sus propios ahorros.

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Journal entries for Nancy


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

Thank you for your loan. It has been disbursed to Nancy 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
Mar 23, 2009
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Kiva Help Repayment Schedule for Nancy

  Expected Repayments Actual Repayments Comments
June 2009 $45.91 $45.90 Repayment Received
July 2009 $53.81 $53.81 Repayment Received
August 2009 $55.66 $55.66 Repayment Received
September 2009 $58.74 $58.75 Repayment Received
October 2009 $60.98 $60.98 Repayment Received
November 2009 $63.82 $63.82 Repayment Received
December 2009 $66.79 $80.75 Repayment Received
January 2010 $69.29 Available Jan 1