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María Margarita
Margarita, 56, spent a great part of her life caring for her son since her lot was being a single mother due to fate’s circumstances. She worked for many years in family homes but tired of not earning a fair wage for her work she decided to retire from that and learn dressmaking. When she realized her potential, she used her savings to buy a sewing machine she used to start her business venture. She started out doing sewing for her neighbors and family members. Now, she’s very well-known in her location and work has increased which is why she’s asking for a loan to buy a straight-stitch sewing machine that will make it possible for her to improve service and generate more household income.

Her greatest dream is to set up a sewing workshop to do contract sewing that will increase income so she can help her children pay for her grandchildren’s schooling. She insists that her family is the most important thing in her life and any sacrifice for them is well worth it.
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Margarita de 56 años de edad, dedicó gran parte de su vida a cuidar de su hijo, ya que le tocó ser madre soltera por circunstancias del destino. Laboró por muchos años en casas de familia, pero cansada de no recibir el pago justo por su labor decidió retirarse y aprender el oficio de la confección. Cuando desarrolló su potencial, compró con sus ahorros una maquina de coser con la que inició su proyecto de negocio. Inició realizando costuras a sus vecinos y familiares. Ahora es muy conocida en su localidad y el trabajo ha aumentado, por lo cual se encuentra solicitando un crédito para la compra de una maquina plana que le permitirá mejorar la calidad en su servicio y generar mayores ingresos para el sostenimiento de su hogar.

Su mayor sueño es poder montar un taller de confección directa que le permita mejorar sus ingresos económicos y colaborarles a sus hijos para la educación de sus nietos. Asegura que su familia es lo más importante en su vida y por ellos cualquier sacrificio vale la pena.

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
  • 529
    View loans »
    Colombia Loans Fundraising
  • $14,661,300
    Funds lent in using Kiva
  • 1,789.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $200 helped María Margarita to buy a sewing machine.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 28, 2013
Listed
Feb 5, 2013
Currency Exchange Loss:
Covered
Ended:
Mar 19, 2014