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Maria Eugenia
María Eugenia is a single mother, head of household with ten children who were abandoned by their father some time ago; he contributes no economic support toward their expenses. Needing to produce income to support her household, María Eugenia set up a sewing workshop where she assembles clothes for third parties and thanks to which she generates household income. María Eugenia has very good customer orders. However, there are seasons with very little work when María Eugenia receives very low income.

Hoping to generate higher income through more sewing services, María Eugenia wants to buy a chain stitch sewing machine but she does not have sufficient capital to do so which is why she hopes to get a loan that will allow her to buy this special sewing machine that will make it possible for her to provide greater services to her customers. María Eugenia hopes in this way to continue increasing her income to improve the quality of life for her ten children as well as offer them a good education and economic stability.
View original language description ↓
Maria Eugenia es una madre soltera cabeza de familia de 10 hijos, a los cuales su padre los abandonó hace un tiempo y no aporta ninguna ayuda económica para el sostenimiento de sus gastos. Maria Eugenia en vista de la necesidad de genera ingresos para el sostenimiento de los gastos de su hogar, montó un taller de confección donde ofrece el servicio de la confección a terceros, y gracias al cual genera los ingresos para su hogar. Maria Eugenia tiene muy buenos pedidos por parte de sus clientes, sin embargo, existen temporadas de muy bajo trabajo donde Maria Eugenia recibe muy bajos ingresos.

Con el ánimo de generar mayores ingresos a través de la prestación de un servicio más en la confección, Maria Eugenia quiere comprar una máquina recubridora, sin embargo, no cuenta con el capital suficiente para la compra de este, por lo que tiene la esperanza en que un préstamo le brindará la oportunidad de acceder a la compra de una máquina recubridora que le permita ofrecer mayores servicios a sus clientes.
Maria Eugenia espera que de esta manera sus ingresos sigan aumentando, para poder mejorarles la calidad de vida a sus 10 hijos, además de poder ofrecerles una buena educación y una estabilidad económica.

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

  • $6,070
    Average annual income
  • 244
    View loans »
    Colombia Loans Fundraising
  • $13,479,900
    Funds lent in using Kiva
  • 1,796.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Maria Eugenia to buy a chain stitch sewing machine.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 26, 2012
Listed
Feb 3, 2012
Currency Exchange Loss:
Covered
Ended:
Mar 19, 2014