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Lina María
Lina is 38 years old. She is a single mother with a 14 year old son. For all of her working life, she has worked in different workshops and sewing businesses, but 5 years ago she started her own workshop with the objective of providing sewing services to others. She currently has 7 employees, whom she pays according to the work they do. This has allowed her to provide for her family’s basic necessities, since all of the economic responsibility fell to her when she was abandoned by her son’s father.

Lina is an organized person, sensible, entrepreneurial, and thriving. She works tirelessly to help her son get ahead in life. This is what motivates her to request the loan, with the goal of buying a double chain stitch sewing machine. With this machine she will be able to increase her production and turn in her products more quickly. She will also have the possibility of increasing her number of clients because she will be able to provide more complete service and she would turn in a product with better finishes, which will be reflected in an increase in her income.

Lina dreams of growing her business and of being able to buy new and better machines so that she can comply with all of the requests from her clients. She would also have the opportunity to improve her income and give her son and excellent education so that he can have a more prosperous and successful future.
View original language description ↓
Lina, a sus 38 años de edad, es madre soltera de un hijo de 14 años. Toda su vida productiva la ha dedicado a laborar en diferentes talleres y empresas de confección, pero, desde hace 5 años inició su propio taller, cuyo objetivo es prestar servicio de confección a terceros. Actualmente cuenta con el apoyo de 7 empleadas, a las cuales les paga de acuerdo a la labor desempeñada. Esto le ha permitido adquirir los recursos necesarios para solventar las necesidades básicas de su familia, pues toda la carga económica recayó sobre ella, luego del abandono del papá de su hijo. Lina es una mujer organizada, juiciosa, emprendedora y pujante, lucha incansablemente por sacar adelante a su hijo. Esto la motiva para solicitar el crédito, con el fin de invertirlo en la compra de una máquina cerradora de codo; con esta máquina podrá aumentar su producción y agilizar en la entrega del producto, además tendrá la posibilidad de aumentar su clientela, pues prestaría un servicio más completo y entregaría un producto con mejores terminaciones, lo que se verá reflejado en el aumento de sus ingresos.
Lina sueña con hacer crecer su negocio, poder comprar nuevas y mejores máquinas para poder cumplir con todos los pedidos de sus clientes, también tendrá la oportunidad de mejorar sus ingresos y darle a su hijo una excelente educación, para que tenga un futuro más próspero y exitoso.

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
  • 388
    View loans »
    Colombia Loans Fundraising
  • $14,624,375
    Funds lent in using Kiva
  • 1,899.4
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Lina María to buy a double chain stitch sewing machine.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 17, 2013
Listed
Aug 18, 2013
Currency Exchange Loss:
Covered
Ended:
Aug 30, 2014