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Clara Eugenia
Clara started learning the art of making clothing from her mother when she was very young, and sporadically worked by her side doing it. But after her husband left her seven years ago, making her a single mother and head of household, she had to start making money for sustenance. That's why she decided to bring back her knowledge to start her own business.

With very little capital, she bought a basic sewing machine and began working as a seamstress, and like that, little by little, she and her son can have the quality of living they deserve. The problem of money has always been her biggest challenge, and now it's getting close to the season of the end of the year so she has a lot of big orders to finish. She needs a loan to buy goods like needles and thread and to make the big orders that her customers have requested that she hasn't been able to complete for lack of capital.

Her dream is to be able to expand this store with more machines and to be able to create jobs for the people most in need of them.
View original language description ↓
Desde muy joven Clara aprendió la actividad de la confección por parte de su madre, y así esporádicamente trabajaba a su lado. Pero desde hace unos 7 años cuando su esposo la abandonó y quedó como madre soltera cabeza de hogar, tuvo que comenzar a generar los ingresos para el sostenimiento y así fue como decidió recurrir a este conocimiento para montar su propio negocio. Con muy poco capital compró una máquina básica y comenzó a trabajar el servicio de confección, y así poco a poco ella y su hijo podían tener una calidad de vida como mínimo digna. La dificultad de capital siempre ha sido su más grande desafío, y ahora que se acerca la temporada de fin de año y tiene grandes pedidos por entregar, Clara requiere un préstamo para comprar insumos como telas e hilos y confeccionar los grandes pedidos que tiene de sus clientes que no ha podido responder por falta de capital.

Su sueño es poder crecer este taller de confección con más máquinas y generando empleo para las personas más necesitadas.

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
  • 365
    View loans »
    Colombia Loans Fundraising
  • $14,070,600
    Funds lent in using Kiva
  • 1,797.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,675 helped Clara Eugenia to purchase goods like needles and thread and to fulfill all the big orders her customers have requested, which she couldn't make yet due to lack of capital.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 25, 2012
Listed
Nov 1, 2012
Currency Exchange Loss:
Covered
Ended:
Sep 25, 2014