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Maria Graciela
Maria learned her work thanks to a neighbor who taught it to her and with her knowledge she succeeded in having a job for 27 years in a tailoring company. Three years ago, looking to be able to care more for her home, she decided to become independent and with some small savings she bought a sewing machine and began to offer tailoring services to others. Despite the fact that in the beginning the earnings from the business were very low due to the fact that she could do only the sewing process with her machine, being able to care for her four children from home made her quality of life improve considerably. Thanks to her efforts her tailoring workshop has been growing and with the same earnings from the business she has bought more machinery, which has permitted her to do other tailoring processes and so, little by little, she has more opportunities for work. Currently she has large orders from her clients but as she doesn’t have the proper machine she must perform the sewing process two times and so Maria is looking for a loan to be able to buy a twin needle sewing machine and thus speed up her production in order to get more work.

Her dream is to come to have a large tailoring workshop where she can generate employment for other relatives who are in financial difficulty. She also aspires to be able to have a better income for her household and that this will permit her to offer her four children and her husband a better quality of life and greater economic opportunities in order to get ahead.
View original language description ↓
Maria aprendió la actividad gracias a una vecina quien se la enseñó y con su conocimiento logró emplearse durante 27 años en una empresa de confecciones. Desde hace 3 años, buscando poder estar más al cuidado de su hogar, decidió independizarse y con unos pequeños ahorros compró una máquina de confección y comenzó a ofrecer el servicio de la confección a terceros. A pesar de que en un principio las ganancias del negocio eran muy bajas debido a que no podía sino hacer un proceso de confección con su máquina, el poder estar al cuidado de sus 4 hijos desde el hogar hizo que la calidad de vida mejorara considerablemente. Gracias a su esfuerzo su taller de confección ha venido creciendo y con las mismas ganancias del negocio ha comprado más maquinaria, lo que le permite elaborar otros procesos y así ir poco a poco teniendo más oportunidades de trabajo. Actualmente tiene grandes pedidos de sus clientes, pero como no cuenta con una máquina debe realizar dos veces un proceso de confección, por esto Maria busca un préstamo para comprar una máquina de doble aguja y así agilizar su producción para recibir más trabajo.

Su sueño es llegar a tener un gran taller de confección donde pueda generar empleo para otros familiares suyos que se encuentran en dificultades económicas. Además, aspira a poder tener mejores ingresos para su hogar y que esto le permita ofrecer a sus 4 hijos y su esposo una mejor calidad de vida y mayores oportunidades económicas para salir adelante.

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
  • 178
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,805.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Maria Graciela to purchase a twin needle sewing machine.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 10, 2012
Listed
Sep 16, 2012
Currency Exchange Loss:
Covered
Ended:
May 22, 2014