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Sandra Patricia

Update on Sandra Patricia

Sandra Patricia is 36 years old, and she has a ten year old son. She has been making clothes for nine years. She works intensely in order to get her own income to support herself and her small son.

Sandra Patricia wishes to have a new overlock machine. That way she does not have to subcontract for this service.

In the future Sandra Patricia wishes to have a sewing shop with her own place to sell. She also wishes to have her own line of women’s clothing. That way she will be able to improve her quality of life and that of her son. She will also be able to generate actual employment opportunities.
View original language description ↓
La señora Sandra Patricia a sus 36 años de edad y madre de un hijo de 10 años, se dedica a la confección de prendas de vestir desde hace nueve años. Ella trabaja intensamente con el fin de conseguir sus propios ingresos para la manutención de ella y de su pequeño hijo. La señora Sandra Patricia desea tener una nueva máquina fileteadora con la cual no tenga que subcontratar este servicio. A futuro la señora Sandra Patricia desea tener su taller de confección con punto de venta propio y una línea de propia de ropa femenina, con lo anterior podrá mejorar su calidad de vida y la de su hijo y generar empleos directos.

Previous Loan Details

Sandra Patricia G. C. learned how to make clothing in established workshops. Upon becoming pregnant and needing to assume her role as mother and head of household, and due to the lack of work opportunities, she saw the need to start working independently making different kinds of garments for peo... More from Sandra Patricia's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Colombia

  • $6,070
    Average annual income
  • 266
    View loans »
    Colombia Loans Fundraising
  • $13,343,550
    Funds lent in using Kiva
  • 1,916.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Sandra Patricia to purchase a sewing machine to make clothing.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Nov 18, 2011
Listed
Nov 21, 2011
Currency Exchange Loss:
Covered
Ended:
Jan 15, 2013