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Dora Piedad

Update on Dora Piedad

Dora, 51 years old, is the mother of three children and lives with her husband. For 18 years, she has been making decorative artisan items for the home, something she learned from her sister and with which she has been able to generate income to help her children succeed. Dora is a sensible woman; she is dedicated to her family and to her work. She is requesting this loan to help purchase supplies (threads, fabric, synthetic cotton) in order to be able to have basic material on hand and be able to offer her customers better product variety to satisfy their diverse tastes. In this way, she will have the possibility of filling orders sooner and will improve her revenue from sales. Dora dreams of being known for her work and attracting new customers from whom she will be able to obtain more revenue in order to continue supporting her household and to improve the living conditions for her whole family.
View original language description ↓
Dora, con 51 años de edad es madre de 3 hijos y vive en unión libre con su pareja. Hace 18 años se dedica a la elaboración de artículos decorativos para el hogar hechos de forma artesanal, actividad que aprendió de una hermana y con lo que ha podido generar ingresos para sacar adelante a sus hijos. Dora es una señora juiciosa, dedicada a su familia y a su trabajo. Solicita el crédito como apoyo para comprar insumos (hilos, tela, algodón sintético) para poder tener materia prima disponible y ofrecer a sus clientes mayor variedad de productos que satisfagan los diversos gustos, de esta manera tendrá la posibilidad de entregar los pedidos oportunamente y mejorará sus ingresos por ventas. Dora sueña con ser reconocida por su trabajo y atraer nuevos clientes con lo que podrá obtener más ingresos para continuar aportando al sostenimiento de su hogar y mejorar las condiciones de vida de toda la familia.

Previous Loan Details

Forty-nine-year-old Dora has worked in sewing for over 15 years, which has allowed her to gain experience and offer her customers quality service. She owes her knowledge in large part to her mother, who was her mentor. She works every afternoon at home and the rest of her time is spent doing… More from Dora Piedad's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Colombia

  • $6,070
    Average annual income
  • 167
    View loans »
    Colombia Loans Fundraising
  • $12,831,825
    Funds lent in using Kiva
  • 1,872.1
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Dora Piedad purchase supplies (threads, fabric, synthetic cotton).
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 11, 2013
Listed
Aug 11, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 17, 2014