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Luz Elena De Fatima
61 years old, Luz Elena makes a living creating garments of clothing for third parties. She has more than 35 years of experience in this business and opened her own shop thanks to her father, who gave her her first sewing machine.

Right now, Luz Elena wants to start her own line of pajamas and continue helping financially with the costs of living and the schooling of the youngest of her three children. She needs to purchase supplies like fabric and thread to begin her new line, with which she hopes to be able to increase her customer base, create her brand, and improve her quality of life.
View original language description ↓
A sus 61 años, la señora Luz Elena se dedica a la confección de prendas de vestir a terceros, su experiencia es de más de 35 años en este sector e inicia su propio taller gracias a su padre quién le obsequió su primera máquina de confección. Actualmente, la señora Luz Elena desea sacar su propia línea de pijamas y seguir apoyando económicamente para los gastos de la vivienda y el estudio del último de sus 3 hijos; para lo cual necesita de la compra de insumos de telas e hilos para iniciar su nueva línea con la cual sueña poder incrementar su clientela, posicionar su marca y mejorar su calidad 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
  • 474
    View loans »
    Colombia Loans Fundraising
  • $15,262,800
    Funds lent in using Kiva
  • 1,920.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped Luz Elena De Fatima to purchase supplies like fabric and thread.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 21, 2011
Dec 27, 2011
Currency Exchange Loss:
Jun 15, 2012