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Flor Rocio
Flor makes a living as a seamstress, and has much experience in her craft. She puts her income from her sewing business toward household expenses and providing for her three children. At her workshop she makes a wide variety of products, including underwear, sports jerseys and apparel. Her high quality work has led to a steady stream of customer orders, and has allowed her to generate income. Even though she runs a successful workshop, her production capacity is low, because she does not have a coating machine. Flor is requesting this loan in order to purchase a coating machine and other input materials for making clothing items.

She hopes that this new machine will make her process more efficient, and will allow her to speed up her production times, offering improved services to her clients. In addition, with increased income, she hopes that her family will enjoy a better quality of life and greater opportunities to progress.
View original language description ↓
Flor se dedica a la actividad de la confección desde hace un largo tiempo y con esta actividad genera ingresos con los cuales contribuye económicamente en su hogar para el sostenimiento de los gastos de sus 3 hijos. En su taller ofrece el servicio de confección a terceros principalmente ropa interior y prendas deportivas y gracias a la buena calidad de sus productos ha logrado tener muy buenos pedidos, lo que le brinda la oportunidad de generar un empleo para una persona muy necesitada; sin embargo, pese a que genera un empleo en su taller, su capacidad de producción es muy baja debido al faltante de una máquina, es por esto que Flor busca que un préstamo le permita comprar una máquina recubridora y materia prima para poder aumentar su capacidad de producción y poder responder a los pedidos de sus clientes.

De esta manera su negocio se hará más eficiente y así podrá tener mejor calidad en el trabajo y mejores tiempos de entrega. Además, con mayores ingresos su familia podrá gozar de una mejor calidad de vida y mejores oportunidades económicas para progresar.

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
  • 265
    View loans »
    Colombia Loans Fundraising
  • $13,496,050
    Funds lent in using Kiva
  • 1,757.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Flor Rocio to purchase a coating machine and raw materials to increase her production capacity and attend to customer demands.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 28, 2012
Listed
Jun 1, 2012
Currency Exchange Loss:
Covered
Ended:
Jul 17, 2014