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Maria Berenice
Maria is a hard working person who has gone through many adversities in her life and for this reason, she has always had great strength that has allowed her to get ahead. For four years, she was running a general store in another section of town but due to violence in the area, she had to move her business to another part of town. However, her business wasn’t profitable because there was a lot of competition in the new location. It was then that she started dress-making, a trade that she learned over time. With this activity, she began to contribute financially to her household.

But one year ago, her husband died in a traffic accident and now the income generated from her dress-making business is her only source of household income to support her two children, ages 14 and 19. As her work is recognized as being of good quality, she has been in touch with good customers recently. For this reason, she now needs a loan to purchase a wrapping machine, a flat sewing machine, and supplies such as fabric and thread to increase her production capacity and fill customer orders. Her dreams are to be able to improve her household financial situation and to give her children the opportunity to continue studying.
View original language description ↓
Maria es una persona muy luchadora que ha tenido que atravesar por muchas adversidades en su vida, y para esto siempre ha tenido una gran fortaleza que le permite salir adelante. Hace unos 4 años atendía una tienda general en otro sector de su municipio, pero debido a problemas de violencia tuvo que trasladar el negocio para otra parte; en el otro lugar ya la tienda no era rentable porque había mucha competencia, entonces fue así como comenzó a dedicarse a la actividad de la confección la cual aprendió con el paso del tiempo. Con esta actividad comenzó en un principio a aportar económicamente en su hogar, pero desde hace 1 año su esposo murió en un accidente de tránsito y ahora es con la actividad de la confección con que genera los únicos ingresos para su hogar para sostener sus 2 hijos de 14 y 19 años de edad. Como su trabajo es reconocido por ser de buena calidad, últimamente ha venido estando en contacto con unos buenos clientes, y es por esto que ahora necesita un préstamo para comprar una máquina recubridora, una máquina plana e insumos como telas e hilos para aumentar su capacidad de producción y responder ante los pedidos de los clientes.

Su sueño es poder mejorar su situación económica en el hogar y que sus hijos tengan la oportunidad de seguir estudiando.

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
  • 269
    View loans »
    Colombia Loans Fundraising
  • $13,343,550
    Funds lent in using Kiva
  • 1,798.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Maria Berenice to purchase a wrapping machine, a flat sewing machine, and supplies such as fabric and thread to increase her production capacity and fill customer orders.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 17, 2012
Listed
Nov 1, 2012
Currency Exchange Loss:
Covered
Ended:
Jun 20, 2013