Update on Liliana MarcelaLiliana is 25 years old. She is an enterprising woman full of dreams and challenges to meet. Her family is her greatest incentive and the force that motivates her to fight for a better future. She has a one year old son and she works tirelessly to give him better opportunities in life. Currently she has a leather workshop in her home, an activity that she learned thanks to the opportunity she had to work in a shoe workshop.
Two years ago, this work became the only source of income to support her household. Now she is requesting a loan to purchase an industrial die-cut machine in order to improve her production process and decrease costs.
She hopes that this will improve her quality of life and allow her to continue growing in the local market.
Desde hace dos años esta actividad se ha convertido en su única fuente de ingresos para el sostenimiento de su hogar. Hoy se encuentra en búsqueda de un crédito para la compra de una máquina troqueladora industrial con el fin de mejorar su proceso de producción y disminuir costos.
Espera poder mejorar su calidad de vida y seguir creciendo dentro del mercado local.
Previous Loan DetailsLiliana, 24, is a young person who has had to look for alternatives to get ahead. Her family is what is most important to her; she's worked hard to provide her parents and her 3 year-old child with food and shelter. With few job opportunities, due to her lack of education, Liliana found a great… More from Liliana Marcela's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Apr 4, 2013
- Apr 18, 2013
- Currency Exchange Loss:
- Nov 18, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.