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Teresa De Jesus
Teresa has had to go through many difficulties in her life. However, she’s always found the strength to continue forward and making progress with her family.

She’s a single mother head of household. She has five children. Teresa separated from her husband three years ago and since then her home’s economic responsibilities have been in her hands.

In order to generate household income she started a sewing workshop at home because she has had these skills for some time. When she started the business she only had basic machines but thanks to her efforts and to the good quality of her work she’s grown and now is able to provide employment for a very needy person. Because her sales continue growing, Teresa is looking for a loan to buy a cutting machine that will make it possible for her to do higher quality work.

Teresa hopes this way to provide better customer service and that production time will be lessened so that she can continue responding to large customer orders. Even though economic difficulties at home persist, Teresa hopes that her business will allow her to continue making progress and that her five children will have a better quality of life and access to a better quality education.
View original language description ↓
Teresa ha tenido que atravesar por muchas dificultades en su vida, sin embargo siempre ha tenido la fortaleza para salir adelante y continuar progresando junto con su familia. Madre soltera cabeza de familia de sus 5 hijos, Teresa se separó de su esposo hace 3 años y desde entonces las responsabilidades económicas de su hogar están a su cargo, y para poder generar los ingresos para su hogar, comenzó con un taller de confección en su casa, gracias a que conocía la actividad desde hace un tiempo. Cuando empezó con el negocio solo contaba con las máquinas básicas, pero gracias a su esfuerzo y la buena calidad de sus trabajos ha logrado crecer y ahora genera un empleo para una persona muy necesitada. Debido a que sus ventas siguen creciendo, Teresa busca un préstamo para comprar una máquina cortadora que le permita realizar su trabajo con mejor calidad.

Teresa espera que de esta manera pueda tener un mejor servicio para sus clientes y el tiempo de producción se reduzca, de modo que pueda seguir respondiendo a los grandes pedidos de sus clientes. A pesar de que en su hogar las dificultades económicas persisten, Teresa espera que su negocio le permita seguir prosperando y que sus 5 hijos tengan una mejor calidad de vida y acceso a una educación de mejor calidad.

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
  • 233
    View loans »
    Colombia Loans Fundraising
  • $12,881,350
    Funds lent in using Kiva
  • 1,790.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Teresa De Jesus to buy a cutting machine.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 11, 2012
Listed
Aug 13, 2012
Currency Exchange Loss:
Covered
Ended:
Jun 20, 2013