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Maria Rosa
"Trust all your actions to God’s hands and your projects will be realized." This is María Rosa’s, favorite quote. She is 58, and learned about tailoring when she was young, thanks to her aunt’s willingness to teach her. When she was well-prepared, she found a job in a small workshop, where she worked for more than ten years. She decided to quit and work independently from home, which made it possible for her to take care of her two children.

She now has a small workshop where she works with tailoring. She is requesting a loan to buy an overlock machine in order to be able to offer a better service and increase her production capacity. This will result in better income and the improvement of her quality of life.
View original language description ↓
“Pon en manos de Dios todas tus obras y tus proyectos se cumplirán” Esta es la frase preferida de María Rosa de 58 años de edad, quien desde joven aprendió el oficio de la confección gracias a la oportunidad y la disposición que su tía tuvo para enseñarle. Después de perfeccionar el oficio buscó empleo en un pequeño taller en donde laboró por más de 10 años. Posteriormente decidió retirarse y trabajar como independiente desde su casa, lo cual le permitió estar al cuidado de sus dos hijos.
En la actualidad cuenta con un pequeño taller en donde trabaja con confección directa. Se encuentra solicitando un crédito para la compra de una fileteadora con el propósito de ofrecer un mejor servicio y que a su vez le permitirá aumentar su capacidad de producción y obtener mayores ingresos para el mejoramiento de su calidad de vida.

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
  • 359
    View loans »
    Colombia Loans Fundraising
  • $14,083,800
    Funds lent in using Kiva
  • 1,777.8
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Maria Rosa to buy an overlock machine.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 18, 2013
Listed
Feb 1, 2013
Currency Exchange Loss:
Covered
Ended:
May 17, 2013