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María Fabiola
Maria is 54 years old. She has always dreamed of opening her own business but due to her financial condition and multiple obligations, she had to face other priorities. She worked for over 10 years in different tailoring workshops where she made her living and generated the income to support her three children.
Now Maria wishes to start making her dream come true, which is why she is asking for a loan. She will invest the money in the purchase of a sewing machine that makes buttonholes and a sewing machine that attaches buttons.
She hopes to see her business grow, and in the medium term, she hopes to be able to give her community the opportunity of getting a decent job.
View original language description ↓
María tiene 54 años de edad y siempre ha soñado con crear su propio negocio, pero debido a su condición económica y las múltiples obligaciones, debió hacer frente a otras prioridades. Laboró por más de 10 años en varios talleres de confección en donde se ganaba la vida y generaba los ingresos para el sostenimiento de sus tres hijos.
Hoy esta mujer desea iniciar con la materialización de su sueño, por lo cual se encuentra solicitando un crédito que invertirá en la compra de una máquina ojaladora y otra botonadora.
Sueña con ver crecer su negocio y en el mediano plazo, proporcionándole a su comunidad la oportunidad de acceder a un empleo digno.

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
  • 481
    View loans »
    Colombia Loans Fundraising
  • $15,251,825
    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 María Fabiola to purchase a sewing machine that makes buttonholes and a machine that sews buttons.
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:
Oct 20, 2013