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Luz Stela
Luz is a very hardworking person who, thanks to the daily effort she puts forth in her business, has succeeded in getting ahead. She has been able to move her family forward by providing a good quality of life in her home. Luz is married and has two children, 15 and 17 years old; she has always wanted to provide them with access to a good quality education. Thanks to the fact that approximately 10 years ago she decided to start her own business she has been able to contribute economically to her household, provide for her children’s education and achieve other goals.

She has a tailoring workshop where she works for third parties and she also has her own line of clothing. Owing to the good quality of her work she has many orders from her customers. Currently, Luz has a problem in that one of her machines is broken, consequently she is applying for a loan in order to purchase a serging machine. Thus she will have a machine that is in good condition, which will increase productivity in her workshop.

Not only will she able to fulfill orders more rapidly, thereby offering better service to her customers, she will also have more spare time to continue making her own clothing line. Her dream is to expand her workshop, generate employment for those in need and increase income for her household so that her whole family will have a better quality of life.
View original language description ↓
Luz es una persona muy trabajadora que gracias al esfuerzo diario que hace en su negocio ha logrado salir adelante y poder sacar a su familia adelante brindando una buena calidad de vida en su hogar. Luz se encuentra casada y tiene 2 hijos de 15 y 17 años de edad a quienes siempre les ha querido brindar el acceso a una educación de buena calidad, y gracias a que hace aproximadamente 10 años decidió montar su propio negocio, ha logrado contribuir económicamente en su hogar para lograr esta y otras aspiraciones más. Su negocio es un taller de confección donde ofrece el servicio de confección a terceros y también tiene su línea propia de confección, y debido a la buena calidad de sus productos tiene muy buenos pedidos por parte de sus clientes. Actualmente Luz presenta la dificultad de que tiene una de sus máquinas averiadas, por esto busca un préstamo para comprar una máquina fileteadora y así poder tener su máquina buena y aumentar la productividad en su taller.

De esta manera podrá fabricar más rápido sus pedidos ofreciendo a sus clientes un mejor servicio, además de que podrá disponer de mayor tiempo libre para seguir confeccionando su línea propia. Su sueño es sacar su taller adelante y generar empleo para los más necesitados, además de tener mejores ingresos para su hogar y así tener una mejor calidad de vida para toda su familia.

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
  • 362
    View loans »
    Colombia Loans Fundraising
  • $14,083,800
    Funds lent in using Kiva
  • 1,829.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,650 helped Luz Stela to purchase a serging machine so that she will have a good machine and increase productivity in her workshop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 14, 2012
Listed
Jul 1, 2012
Currency Exchange Loss:
Covered
Ended:
Jun 17, 2014