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Luz Elena
Luz Elena has dedicated the greater part of her life to sewing since her mother taught her this business from a very early age. She has always enjoyed it and so later she decided to begin a course of study where she was taught more about the techniques of dressmaking. Once she learned all the techniques and learned to make articles of clothing, her father gifted her a sewing machine with which to begin her work, and she has been refurbishing these machines as time goes by.

Currently Luz Elena remains in business with her own dressmaking shop and has already purchased two additional machines, as well as a cutting table and other tools for her shop. Thanks to the good quality of the apparel she makes, Luz Elena has a very good reputation among her customers, who place very good orders with her. Frequently Luz Elena must hire two persons to help her with her work, since the orders are so large that she is not able to fulfill them all on her own.

Luz Elena has seen her sales increase substantially, and making the clothes by machine and by hand is no longer producing results. Thus Luz Elena turns to the hope that a loan may provide her with the possibility of being able to purchase an industrial sewing machine with which to construct the apparel in automated, and thus more efficient, fashion.

Luz Elena dreams that her business would continue to grow and generate a good profit with which to offer her husband and two children, of 14 and 18 years of age, a better quality of life and stable financial prosperity.
View original language description ↓
Luz Elena ha dedicado gran parte de su vida a la confección, puesto que desde muy joven su madre le enseñó la actividad. Siempre le ha gustado y es por esto que después inició un curso donde le enseñaron más acerca de las técnicas de confección. Una vez aprendió todas las técnicas y aprendió a producir prendas de vestir, su padre le regaló una máquina para iniciar su trabajo, y estas máquinas las ha ido renovando con el pasar del tiempo.

Actualmente Luz Elena sigue con su propio taller de confección y ya compró dos máquinas más, además de una mesa de corte y otras herramientas más para su taller. Gracias a la buena calidad de los productos que confecciona, Luz Elena tiene muy buena reputación entre sus clientes, los cuales le hacen muy buenos pedidos. A menudo, Luz Elena tiene que contratar a 2 personas para que le ayuden con su trabajo, pues los pedidos son tan grandes que no le da para confeccionarlos ella sola.

Luz Elena ha visto como sus ventas se han incrementado significativamente, y ya no la manera de confeccionarlos a máquina y a mano no le esta dando resultados. Es por esto que Luz Elena acude a la esperanza de que un préstamo le brinde la posibilidad de acceder a la compra de una máquina de confección industrial, con la cual pueda realizar su confección de manera automatizada y produzca de manera más eficiente.

Luz Elena sueña con que su negocio siga creciendo y le genere buenas ganancias con las cuales pueda brindarles a su esposo y a sus 2 hijos de 14 y 18 años, una mejor calidad de vida y una prosperidad económica y estable.

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
  • 479
    View loans »
    Colombia Loans Fundraising
  • $15,262,800
    Funds lent in using Kiva
  • 1,810.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Luz Elena to purchase an industrial sewing machine.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 25, 2012
Listed
Feb 3, 2012
Currency Exchange Loss:
Covered
Ended:
Nov 16, 2012