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Gloria Lucia
Four years ago Gloria began selling clothing that she makes, and also clothing that her family sends her from other places. With this business she can generate income to support her household economically, so that her husband and their 4 children have the possibility to achieve a higher quality of life. Gloria's greatest difficulty with the business is a lack of capital to be able to get ahead and grow the business. Now that her sales are increasing she needs to increase her production capacity. Gloria asks for a loan to buy an industrial sewing machine to increase her production and meet her customers' orders.

Her dream is to have a good business that generates good income so she can buy her own house and her family can have a more stable home.
View original language description ↓
Gloria inició desde hace unos 4 años la venta de ropa que confecciona y también una ropa que le envía un familiar desde otros lugares. Con este negocio puede generar ingresos para aportar económicamente en su hogar y así su esposo y sus 4 hijos tienen la posibilidad de acceder a una mejor calidad de vida. La gran dificultad que ha acompañado a Gloria en su negocio es la falta de capital para poder salir adelante y crecer en el negocio, y ahora que sus ventas están aumentando y necesita aumentar la capacidad de producción, Gloria acude a un préstamo para comprar una máquina plana industrial para aumentar su capacidad de producción y así responder a los pedidos de sus clientes.

Su sueño es tener un buen negocio y que le genere buenos ingresos para conseguirse su casa propia y así su familia tenga un hogar más estable.

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
  • 177
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,797.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Gloria Lucia to buy an industrial sewing machine to increase her production capacity and fill her customers' orders.
100% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 27, 2012
Listed
Nov 1, 2012
Currency Exchange Loss:
Covered
Ended:
Nov 18, 2013