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Clara Isabel
Clara is an entrepreneur who has always shown great strength in overcoming the difficulties she has encountered in her life, and in getting by with her son. Clara is a single mother in charge of providing for her 7 year old son as his father abandoned them a long time ago without making any financial contribution to their upkeep. Clara is a dressmaker and, owing to the quality of the garments she produces and the care she takes in doing so, she is well-known among people in her area. Currently, Clara wishes to begin manufacturing her own line of products as she completed a course in design a few days ago. With this aim in mind, Clara hopes that a loan will allow her to buy a flat-bed sewing machine, an over-locking machine and fabrics to manufacture her own line of clothing.

Clara hopes to be able to achieve all of this and to employ more people than she currently does, as to date she has created 2 posts for mothers in a similar situation to her own. Clara dreams of having a large workshop and being able to open a department store to sell her own clothing line. Furthermore, she hopes to continue selling a large quantity of items to different clients. Clara hopes that her son will have a better quality of life and access to a better education.
View original language description ↓
Clara es una emprendedora que siempre ha tenido la fortaleza de superar las dificultades que le ha presentado la vida y salir adelante junto a su hijo. Clara es una madre soltera cabeza de familia de 1 hijo de 7 años debido a que el padre de su hijo los abandonó hace un tiempo sin hacer alguna contribución económica para su sostenimiento. Clara se dedica a la confección a terceros y gracias a la buena calidad de sus productos y la buena atención que presta es muy reconocida entre las personas de su región. Clara actualmente tiene la motivación de empezar a confeccionar su propia línea de productos, ya que aprendió de diseño en un curso que tomó hace unos días. Con el ánimo de poder llevar esto a cabo, Clara espera que un préstamo le brinde la posibilidad de acceder a la compra de una máquina plana y una máquina recubridora y telas para llevar a cabo la elaboración de su línea propia de prendas de vestir.

Clara espera poder llevar esto a cabo y emplear a más personas de las que emplea ahora, pues actualmente genera 2 puestos de trabajo para madres en la misma condición que ella. Clara sueña con tener un gran taller y poder abrir un almacén para vender su línea propia, además de seguir vendiendo a grandes cantidades a diferentes clientes. Clara espera que su hijo pueda tener una mejor calidad de vida y el acceso a una educación de mejor calidad.

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
  • 173
    View loans »
    Colombia Loans Fundraising
  • $13,230,600
    Funds lent in using Kiva
  • 1,775.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,425 helped Clara Isabel to buy a flat-bed sewing machine, an over-locking machine and fabrics for manufacturing her own line of clothing.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 9, 2012
Listed
Mar 2, 2012
Currency Exchange Loss:
Covered
Ended:
Sep 22, 2013