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Liliana Marcela

Update on Liliana Marcela

Liliana 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.
View original language description ↓
Liliana de 25 años de edad, es una mujer emprendedora, llena de sueños y retos por cumplir. Su familia es su mayor aliciente y la fuerza que la motiva a luchar por un mejor porvenir. Tiene un hijo de un año de edad, por el que trabaja incansablemente a fin de brindarle mejores oportunidades de vida. En la actualidad cuenta con un taller de marroquinería en su residencia, actividad que aprendió gracias a la oportunidad que tuvo de trabajar en un taller de calzado.
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 Details

Liliana, 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 gre... More from Liliana Marcela's previous loan »

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.

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.

About Colombia

  • $6,070
    Average annual income
  • 501
    View loans »
    Colombia Loans Fundraising
  • $14,678,675
    Funds lent in using Kiva
  • 1,848.1
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Liliana Marcela to purchase an industrial die-cut machine.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 4, 2013
Listed
Apr 18, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 18, 2013
This photo was used before for a previous loan for Liliana Marcela. It was first posted on Kiva on Feb, 2013. Learn More