Check out some available loans that are similar to this one!
María Del Socorro
María, 38, has been sewing clothes for more than ten years; she currently works in a sewing workshop. With her vision and wish to get ahead, she’s now decided to create her own workshop which is why she’s asking for a loan to buy three sewing machines with the purpose of providing quality service improving her economic condition and securing a proper life for her 8-month-old son.

She states that since her youth she’s always dreamed with having her own workshop so she feels a great satisfaction to see that her dream is about to materialize. One of the great advantages she has is that she has many customers in the sector so she should reach a point of equilibrium in a shorter period of time.
View original language description ↓
María de 38 años de edad, se dedica al oficio de la confección desde hace más de 10 años. En la actualidad labora en un taller de confección.
Con su visión y ganas de salir adelante, hoy se encuentra decidida a crear su propio taller, por lo cual se encuentra solicitando un crédito que invertirá en la compra de tres máquinas de confección con el propósito de ofrecer un servicio de calidad, mejorando su condición económica y garantizándole a su hijo de ocho meses de edad un calidad de vida digna.
Asegura que desde su juventud, siempre soñó con tener su propio taller, por lo cual siente gran satisfacción al ver que su sueño está a punto de materializarse.
Una de sus grandes ventajas es que cuenta con muchos clientes del sector, por lo cual alcanzará el punto de equilibrio en un menor tiempo.

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

  • $6,070
    Average annual income
  • 231
    View loans »
    Colombia Loans Fundraising
  • $12,881,350
    Funds lent in using Kiva
  • 1,847.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped María Del Socorro to buy three sewing machines.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 25, 2013
Listed
May 24, 2013
Currency Exchange Loss:
Covered
Ended:
Feb 20, 2015