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Luz Mirian
Luz is 40 years old and is the female head of a family of three children. She has been working for some years in the garment sector, gaining knowledge and craftsmanship in order to create her own business.

With the purpose of beginning her own production project, Luz is asking for a loan to invest in the purchase of a sewing machine so she can work from home making clothing to wear.

She dreams of having a good reception in the local market and earning enough to support her family.
View original language description ↓
Luz tiene 40 años de edad, y es madre cabeza de familia de tres hijos. Laboró por varios años en el sector de la confección, conocimientos y habilidades que trasladará a la creación de su propio negocio. Con el fin de iniciar con su proyecto productivo, Luz se encuentra solicitando un crédito que invertirá en la compra de una máquina de coser y dedicarse a trabajar desde su hogar en la confección de prendas de vestir.
Sueña con tener una buena aceptación en el mercado local y generar los recursos necesarios para el sostenimiento de su familia.

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
  • 192
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,899.5
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Luz Mirian to buy a sewing machine.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 30, 2013
Listed
May 30, 2013
Currency Exchange Loss:
Covered
Ended:
Aug 30, 2014