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Luz Andrea
Luz Andrea is a single mother head of household to her two children who are 1 and 4 years old because their father abandoned them some time ago without making any economic contributions. She used to work as an employee at a dressmaking firm but feeling that her work was poorly paid she decided to set up her own dressmaking workshop at home aiming at generating higher income to support her home.

This is how she set up her dressmaking shop where she offers service to third persons and has managed to capture a large number of customers so now her production is insufficient to cover customer demand which is why Luz Andrea is looking for a loan to buy an industrial sewing machine for her workshop to increase production capacity and be able to fill all the orders her customers place.

In this way she will be able to have higher sales and thus higher income that she can use to provide her two minor children with a better quality of life and access to a good education. Luz Andrea dreams with having a large workshop to generate employment for those most in need and that will allow her to provide her children with economic stability.
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Luz Andrea es una madre soltera cabeza de familia de sus 2 hijos de 1 y 4 años de edad, pues su padre los abandonó hace un tiempo sin hacer alguna contribución económica. Anteriormente trabajaba como operaria en una empresa de confecciones, pero al sentir que su trabajo era muy mal remunerado, decidió montar su propio taller de confección desde su casa con el ánimo de generar mayores ingresos para el sostenimiento de su hogar. Fue así como montó desde su casa un taller de confección en el cual ofrece el servicio de confección a terceros y donde al mismo tiempo puede estar al cuidado de sus hijos. Gracias a la buena calidad de sus productos, ha logrado captar un gran número de clientes, y es por esto que actualmente su capacidad de producción es inferior a los pedidos que hacen sus clientes de sus servicios. Es por esto que Luz Andrea busca que un préstamo le brinde la oportunidad de acceder a la compra de una máquina industrial para la confección en su taller y así aumentar la capacidad de producción para poder responder a todos los pedidos que hacen sus clientes.

De esta manera podrá tener mayores ventas y por ende mayores ingresos, y con los cuales podrá ofrecer a sus 2 hijos una mejor calidad de vida y el acceso a una buena educación. Luz Andrea sueña con tener un gran taller donde pueda generar empleo para los más necesitados y desde el cual pueda ofrecer una estabilidad económica a sus hijos.

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
  • 523
    View loans »
    Colombia Loans Fundraising
  • $14,666,500
    Funds lent in using Kiva
  • 1,766.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,425 helped Luz Andrea to buy an industrial sewing machine.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 30, 2012
Listed
May 2, 2012
Currency Exchange Loss:
Covered
Ended:
Oct 20, 2013