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Luz Enith
Luz Enith is a person who has had to pass through many difficulties in her life, but thanks to the strength that has always characterized her, she has been able to succeed and overcome adversity and continue to provide a good quality of life for her family. Luz Enith is a single mother and head of the household with two children ages 13 and 17. The father of her children abandoned them some years ago without making any economic contribution for their care. In order to generate income, Luz Enith worked in a tailor's shop, but since she became unemployed a few years ago, she decided to purchase a sewing machine from the business's liquidation sale, and she began to work for herself from home. In spite of the minimal capital which she has had, and thanks to her efforts, her sewing shop has been growing and this has allowed her to overcome the adversities of her home life. Now that she has large orders from her clients, she is looking for a loan in order to purchase a serger sewing machine that will permit her to increase the capacity of her shop's production and thus respond to the large requests from her clients.

Her dream is to be able to have a large tailor's shop where she could generate employment for more people and from which her children would gain the opportunity to have a better quality of life and access to a higher quality education.
View original language description ↓
Luz Enith es una persona que ha tenido que pasar por muchas dificultades en su vida, pero gracias a la fortaleza que siempre la ha caracterizado ha logrado salir adelante superando las adversidades y seguir brindando una buena calidad de vida en su hogar. Luz Enith es madre soltera cabeza de familia de sus 2 hijos de 13 y 17 años de edad debido a que el padre de sus hijos los abandonó hace unos años sin hacer alguna contribución económica para su sostenimiento. Para generar los ingresos, Luz Enith trabajaba en una empresa de confección, pero debido a que se quedó sin empleo hace unos años, decidió comprar una máquina de confección con su liquidación y comenzar a trabajar por su propia cuenta desde su casa. A pesar del poco capital con el que ha contado, gracias al esfuerzo que ha hecho su taller de confección ha venido creciendo y esto le ha permitido ir superando las adversidades de su hogar; y ahora que tiene grandes pedidos por parte de sus clientes, busca un préstamo para comprar una máquina recubridora que le permita aumentar la capacidad de producción de su taller y así responder a los grandes pedidos de sus clientes.

Su sueño es poder tener un taller de confección grande donde pueda generar empleo para las demás personas y desde el cual sus hijos tengan la oportunidad de tener una mejor calidad de vida y el acceso a auna 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

  • $11,100
    Average annual income
  • 486
    View loans »
    Colombia Loans Fundraising
  • $14,958,950
    Funds lent in using Kiva
  • 1,818.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Luz Enith to purchase a serger sewing machine that will permit her to increase the capacity of her shop's production and thus respond to the large requests from her clients.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 23, 2012
Listed
Sep 5, 2012
Currency Exchange Loss:
Covered
Ended:
Aug 19, 2013