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María Romelia
María Romelia is 46 years old. She is a determined woman with the will to undertake the path towards success. She says that when she was young she learned the dressmaking trade y she practiced it during many years in different businesses. With the birth of her third child she saw the need to abandon her work and dedicate herself to his care.

Now, after thirteen years of suspending the activity, she wishes to begin anew with the goal of improving the quality of life for her family. This is why she finds herself applying for a loan to buy a sewing machine with which she will initiate her business project. She dreams of the possibility of having a great workshop with which she can convert herself into a source of direct employment.
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María Romelia de 46 años de edad, es una mujer luchadora y con ganas de emprender camino hacia el éxito. Cuenta que desde joven aprendió el oficio de la confección y lo ejerció durante varios años en diferentes empresas. Con el nacimiento de su tercer hijo se vio en la obligación de abandonar su trabajo y dedicarse a su cuidado. Hoy después de trece años de suspender la actividad, desea reiniciar nuevamente con el fin de mejorar la calidad de vida de su familia, por lo cual se encuentra solicitando un crédito para la compra de una máquina de coser con la que iniciará su proyecto de negocio. Sueña con la posibilidad de tener un gran taller en donde pueda convertirse en una fuente de empleo directo.

Additional Information

More information about this loan

By supporting this loan, you're helping a borrower launch a new business!

This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.

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

  • $11,100
    Average annual income
  • 496
    View loans »
    Colombia Loans Fundraising
  • $14,967,400
    Funds lent in using Kiva
  • 1,840.0
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,750 helped María Romelia to buy a sewing machine.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 12, 2013
Listed
Apr 27, 2013
Currency Exchange Loss:
Covered
Ended:
May 17, 2015