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Luz Elena
Luz Elena, age 50, has earned the affection and admiration of her community. Her professionalism has allowed her to accomplish her goal of establishing a business.


Luz has been sewing for 30 years. This woman has been able to move forward along with her four children. Her experience in this field has been her best asset for gaining the loyalty of her customers. Luz works from home with one of her daughters. This enables her to look after her family and take care of the household chores.


At the moment, she is requesting a loan so that she can invest in the purchase of fabrics and thread in order to complete her outstanding orders. Her greatest wish is to expand her business, which will allow her to improve her family’s quality of life.

View original language description ↓
Luz Elena de 50 años de edad, se ha ganado el cariño y la admiración de su comunidad, su profesionalismo le ha permitido cumplir con su proyecto de crear empresa.
Dedicada a la confección desde hace 30 años, esta mujer ha logrado salir adelante con sus cuatro hijos. Su experiencia en el sector han sido su mejor arma para fidelizar a sus clientes.
Labora desde su casa en confección a terceros en compañía de una de sus hijas, lo que le permite estar al pendiente de su familia y de las labores hogareñas. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de telas e hilos, con el fin de cumplir con los pedidos solicitados.
Su mayor sueño es poder ampliar su negocio lo que le permitirá mejorar la calidad de vida de su familia.

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
  • 266
    View loans »
    Colombia Loans Fundraising
  • $13,600,025
    Funds lent in using Kiva
  • 1,780.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Luz Elena to buy fabrics and thread.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 16, 2013
Listed
Feb 1, 2013
Currency Exchange Loss:
Covered
Ended:
Jul 17, 2014