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Luz Marina
Luz Marina has worked in sewing for a long time now. With this job she generates income with which she contributes economically to the support of her home, where she lives with her husband and two children. She learned this work from a very young age and, thanks to the knowledge she acquired, her sewing shop is recognized for the good quality of her products.

Because the market has been requesting more products than her production capacity has to offer, Luz Marina is looking for a loan that will give her the opportunity to buy a serger to generate a job in her shop. Luz Marina hopes to increase her production capacity to the point of being able to satisfy all the demand for her products and to be able to continue growing more all the time.

In addition, she hopes that with greater income her two children and her husband will have the possibility of having a better quality of life and more economic opportunities.
View original language description ↓
Luz Marina se dedica a la actividad de la confección desde hace ya bastante tiempo. Con este trabajo, genera ingresos con los cuales contribuye económicamente para el sostenimiento del hogar donde convive con su esposo y sus 2 hijos. La actividad la aprendió desde muy temprana edad y gracias al conocimiento adquirido su taller de confección se reconoce por la buena calidad de sus productos. Debido a que el mercado le ha estado demandando más productos de los que su capacidad de producción tiene para ofrecer, Luz Marina busca que un préstamo le brinde la oportunidad de acceder a la compra de una máquina fileteadora para generar un empleo en su taller.

Luz Marina espera aumentar su capacidad de producción hasta el punto en poder satisfacer toda la demanda que tienen por sus productos y poder seguir creciendo cada vez más. Además, espera que con mayores ingresos sus 2 hijos y su esposo tengan la posibilidad de acceder a una mejor calidad de vida y mayores oportunidades económicas.

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
  • 195
    View loans »
    Colombia Loans Fundraising
  • $13,162,950
    Funds lent in using Kiva
  • 1,761.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Luz Marina to buy a serger to generate a job in her shop.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 15, 2012
Listed
May 1, 2012
Currency Exchange Loss:
Covered
Ended:
Aug 15, 2012