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Luz Mariela
Luz Mariela is married and has six children. In order to contribute to household expenses along with her husband, she runs a sewing business.
When she started the business she had only a basic sewing machine and very few orders. But now thanks to the effort and hard work she put in, she has enough work for three employees and her financial situation has greatly improved.

In addition, Luz Mariela has started her own line of clothing and has received many orders for the clothes from her customers. Because of these orders and because she doesn't have any capital, she is seeking a loan to buy supplies such as fabric and thread so she can complete the orders.

Her greatest dream is to make a success of her workshop and to be able to provide her six children with a good quality education. As well she hopes that the economic hardships suffered by her family will be overcome by her business success.
View original language description ↓
Luz Mariela se encuentra casada y tiene 6 hijos, y para sostener los gastos de su hogar, contribuye económicamente junto con su esposo gracias a un taller de confección que tiene donde ofrece el servicio de confección a terceros. Cuando comenzó con su taller tenía tan solo una máquina básica para confeccionar y sus pedidos eran muy pocos, pero gracias al esfuerzo que ha hecho y todo el empuje que ha puesto en su negocio ahora tiene la oportunidad de generar 3 empleos y las condiciones económicas de su hogar han mejorado considerablemente. Además de esto, también ha logrado comenzar a sacar su propia línea de ropa, la cual también tiene muy buenos pedidos por parte de sus clientes, y debido a que tiene grandes pedidos y no cuenta con el capital suficiente para responder por ellos, Luz Mariela busca un préstamo que le permita comprar insumos como telas e hilos y así poder responder a los pedidos que tiene por parte de sus clientes.

Su mayor sueño es lograr salir adelante con su taller y poder brindarles educación de buena calidad a sus 6 hijos. Además, espera que las dificultades económicas que sufren en su hogar puedan ser superadas con su negocio.

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
  • 213
    View loans »
    Colombia Loans Fundraising
  • $12,876,400
    Funds lent in using Kiva
  • 1,790.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Luz Mariela buy supplies such as fabric and thread so she can complete the orders from her customers.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 10, 2012
Listed
Aug 13, 2012
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2013