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Cielo Del Socorro
Cielo is 54 years old and a single mother of three children. When she was a young woman, she obtained her university degree and got a job at a company where she worked for 23 years. Cielo divided her time between her job and one of her favorite hobbies, making knitted and embroidered crafts. She learned this skill by taking a high school course and developed a passion that she has always had ever since. Five years ago, Cielo decided to become independent and establish her own business of making all types of knitted and embroidered garments. Her business is located in a small space in her house that doubles as both a workshop and a store. In addition to clothes, she also sells baby products.


Cielo is a successful, enterprising, and intelligent woman who is passionate about what she does. She says that she accomplished one of her important dreams, which was to open her own business. Now her challenge is to expand her business by increasing her clientele and exporting her garments to other countries. For this reason, Cielo is requesting a loan. She will invest in repairs to her knitting machine and the purchase of a necessary spare part so that she can continue her business. Cielo and her business are dependent on that machine since she must have a source of income to cover necessities and family expenses. With this support, she will be able to improve her quality of life and that of her family.

View original language description ↓
Cielo, a sus 54 años de edad es madre soltera de 3 hijos. Cuando era joven realizó una carrera universitaria y se empleó en una empresa donde trabajó durante 23 años. Alternaba su empleo con uno de sus hobbies favoritos que es hacer manualidades, tejidos y bordados, actividad que aprendió desde que cursaba sus estudios secundarios y que la apasiona desde siempre, tanto, que desde hace 5 años decidió independizarse y montar su propio negocio en el que confecciona todo tipo de prendas tejidas y bordadas, está ubicado en un pequeño espacio de su casa, el cual adecuó como taller y almacén y, adicional a sus prendas, también vende artículos para bebé.
Cielo es una señora pujante, emprendedora, inteligente y apasionada por lo que hace, pues manifiesta haber cumplido uno de sus principales sueños al poder montar su negocio. Ahora, el reto que se propone es ampliar su negocio, aumentando su clientela e incluso sueña con poder exportar sus prendas a otros países. Esto la motiva para solicitar el crédito, que invertirá en la reparación de su máquina tejedora y necesita comprar un repuesto, con lo que podrá darle continuidad a su negocio, ya que la máquina es la vida del mismo y la fuente de sus ingresos con los que solventa las necesidades y gastos de su familia. Con este apoyo tendrá la posibilidad de mejorar su calidad de vida y la de su familia.

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
  • 167
    View loans »
    Colombia Loans Fundraising
  • $12,834,025
    Funds lent in using Kiva
  • 1,869.4
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Cielo Del Socorro to repair her knitting machine and to purchase a necessary spare part.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 15, 2013
Listed
Aug 15, 2013
Currency Exchange Loss:
Covered
Ended:
Sep 25, 2014