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Luz Marina
Luz Marina is 51 years old. She is separated and has 3 children who she strives to provide for and ensure a better future.
When she separated from her spouse she took on all the household responsibilities and has had to divide her time between caring for her children and financially providing for them.
At a friend’s suggestion, Luz Marina started a furniture making business 20 years ago which has been very successful. She is satisfied with this work because she considers it an art. Currently, she has 2 employees with whom she works Monday through Saturday from eight in the morning until eight at night.
She is requesting a loan to purchase furniture making supplies and materials. She hopes to be able to increase her productivity and fill her orders so that she can increase her income and improve her family’s quality of life.
View original language description ↓
Luz Marina de 51 años de edad, es separada y madre de tres hijos, por los cuales ha tenido que esforzarse a fin de sacarlos adelante y garantizarles un mejor futuro.
Cuando se separó de su cónyuge le tocó hacerse cargo de las obligaciones del hogar, así que distribuyó su tiempo entre el cuidado de sus hijos y la búsqueda de ingresos para sostenerlos.
Por iniciativa de un amigo, Luz Marina, comenzó su negocio en sociedad, dedicado a la fabricación de mueblería. Actividad que dio buenos resultados y a la cual se dedica desde hace 20 años. Manifiesta estar satisfecha con su trabajo porque lo considera un arte. Actualmente labora con 2 empleados de lunes a sábado de ocho de la mañana a ocho de la noche.
En la actualidad se encuentra solicitando un crédito que invertirá en la compra de materiales e insumos para la fabricación de muebles, espera poder mejorar su productividad y poder hacer entrega de los pedidos solicitados, con el fin de incrementar sus ingresos y 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
  • 259
    View loans »
    Colombia Loans Fundraising
  • $13,479,900
    Funds lent in using Kiva
  • 1,796.7
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $850 helped Luz Marina purchase materials such as wood, glue and sandpaper.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 22, 2013
Listed
Mar 1, 2013
Currency Exchange Loss:
Covered
Ended:
Feb 22, 2014