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Maria Olga
María Olga has been very hardworking her entire life. She’s 58 years old and has four children in her care. She strives daily in her workshop hoping to generate the necessary income to support them and attain a better quality of life. María Olga has worked her entire life sewing and this is why her products are renowned for their good quality. María Olga primarily produces staff uniforms for firms and household items like curtains and bedspreads, among others.

A few days ago her overlock sewing machine broke down so she’s not been able to work at the usual required pace. Besides, she has a large pending order from one of her customers to supply uniforms for their firm. Because of this, María Olga needs to buy supplies and repair her sewing machine. However, she does not have sufficient capital at present to do so which is why she’s hoping for a loan that will allow her to buy the supplies needed to make the uniforms like fabric and thread, among others, and to repair her sewing machine so that she can continue with her work normally.

María Olga’s dream is that her children can attend University and this is why she saves up all she’s able to in order to have sufficient resources when that moment arrives. Besides, she also dreams with her shop growing and her sales increasing so that she can generate employment for other, more needy people.
View original language description ↓
Maria Olga ha sido muy trabajadora durante toda su vida. Con 58 años de edad, y 4 hijos a su cargo, se esfuerza todos los días en su taller con el ánimo de generar los ingresos necesarios para su sustento y para permitirles una mejor calidad de vida.
Maria Olga ha trabajado toda su vida con la confección, y es por esto que sus productos son reconocidos por su buena calidad.
Maria Olga confecciona principalmente uniformes de dotación para empresas y artículos para el hogar, como son cortinas, tendidos, entre otros.

Hace unos días se le averió su máquina fileteadora, por lo que no ha podido trabajar al ritmo que requiere. Además, tiene un gran pedido por parte de uno de sus clientes para entregarles uniformes para la dotación de su empresa.
Es por esto que Maria Olga requiere comprar estos insumos, además de arreglar su máquina fileteadora, sin embargo, no cuenta actualmente con el capital suficiente para ello, por lo que aspira a que un préstamo le brinde la posibilidad de acceder a la compra de insumos para la confección de uniformes como son la tela, hilos, entre otros, y la reparación de su máquina fileteadora que le permita seguir trabajando normalmente.

Maria Olga tiene el sueño de que sus hijos puedan acceder a una educación universitaria, por esto ahorra lo que más puede para tener los recursos suficientes cuando llegue el momento dado. Además, sueña con que su taller crezca y sus ventas se aumenten, de modo que pueda generar empleo para las personas más necesitadas.

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
  • 365
    View loans »
    Colombia Loans Fundraising
  • $15,629,950
    Funds lent in using Kiva
  • 1,812.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Maria Olga to buy supplies and to repair her sewing machine.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Jan 23, 2012
Feb 2, 2012
Currency Exchange Loss:
Apr 18, 2013