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Martha Cecilia
Martha, 48, looks for the best opportunities to support her two children. As a youngster, she learned tailoring and has spent most of her life in this trade. Some time ago, she decided to open a small shop to compliment her trade and to earn more income to meet household expenses.

She is satisfied with the goals she has achieved. She says that the chance to offer her children an education is the main reason she is happy. Martha has applied for a loan to buy a coverstitch machine so that she can keep working as a seamstress and improve both customer service and her financial situation.
View original language description ↓
Martha de 48 años de edad, es una mujer que se ha caracterizado por buscar mejores oportunidades de vida para sus dos hijos. Aprendió el oficio de confección desde su juventud, por lo cual ha trabajado en este sector la mayor parte de su vida. Hace algún tiempo decidió abrir una miscelánea con el fin de complementar su actividad económica y generar mayores ingresos que le permitieran satisfacer las necesidades en su hogar. En la actualidad se siente satisfecha por los logros alcanzados, asegura que tener la oportunidad de brindarles educación a sus hijos es su mayor motivo de felicidad. Con el fin de seguir ejerciendo el oficio de la confección Martha se encuentra solicitando un crédito que invertirá en la compra de una máquina recubridora con el fin de mejorar la calidad en el servicio y mejorar su condición económica.

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.

About Colombia

  • $6,070
    Average annual income
  • 138
    View loans »
    Colombia Loans Fundraising
  • $12,792,775
    Funds lent in using Kiva
  • 1,899.4
    Colombia Pesos (COP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,075 helped Martha Cecilia to buy a coverstitch machine.
77% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 7, 2013
Listed
Jun 7, 2013
Currency Exchange Loss:
Covered