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Maria Albertina

Update on Maria Albertina

Maria has many years of experience in tailoring as she started learning at her mother's side when she was very young and since that age she has had this business as a possible source of income for her family. That is why, after she got married and had children, it was by working in tailoring for third parties that she contributed to the household expenses and improved her family's quality of life. However, her husband died a while ago and this has left her a single mother in charge of her household and financial troubles at home have not taken long to appear. For this reason, Maria is asking for a loan to improve her sales by buying a case to display her work and also to buy supplies and the raw materials she needs to tailor some of the customer orders she has pending.

Her dream is to keep doing this work and to improve her household income so she can offer her children a better quality of life. In the future, she also hopes to enjoy her old age in peace.
View original language description ↓
Maria tiene muchos años de experiencia en la actividad de la confección, pues desde muy joven aprendió al lado de su madre y desde joven tenía esta actividad como la posible fuente de ingresos para su familia. Fue así entonces como cuando se casó y tuvo sus hijos, que trabajando en la confección a terceros aportaba económicamente para los gastos del hogar y así poder mejorar la calidad de vida de su hogar. Sin embargo, desde hace un tiempo su esposo murió y esto ha hecho que haya quedado como madre soltera cabeza de hogar, y las dificultades económicas del hogar no se han demorado en aparecer. Es por esto que buscando mejorar sus ventas, Maria busca un préstamo para comprar una vitrina para exhibir las confecciones y también comprar insumos y materias primas que necesita para confeccionar algunos pedidos que tiene por parte de sus clientes.

Su sueño es poder continuar con esta actividad y mejorar los ingresos del hogar para poder ofrecer a sus hijos una mejor calidad de vida y ella en un futuro poder gozar de su vejez tranquilamente.

Previous Loan Details

María has been working sewing for more than 36 years because she was interested in learning this activity from a very young age and got a job that way. Later, with some savings she managed to buy her first sewing machine to work from home and take on jobs for third parties. In this way she st... More from Maria Albertina's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Colombia

  • $6,070
    Average annual income
  • 306
    View loans »
    Colombia Loans Fundraising
  • $13,867,525
    Funds lent in using Kiva
  • 1,798.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Maria Albertina to buy a case to display her work and to buy supplies and raw materials she needs to tailor some customer orders she has pending.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 18, 2012
Listed
Nov 1, 2012
Currency Exchange Loss:
Covered
Ended:
Jun 20, 2013