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Luis Alberto
Luis, 53 years old, lives with his wife and 3 children. He began his sewing business 6 years ago, and posses contracts with third parties in addition to having created his own line of blouses, sweaters, shorts, and others. He has the support of his wife, and they sell their products in different villages in the region. This way they are able to obtain the income necessary to sustain their family's basic needs, after having passed through some economic difficulties due to lack of employment opportunities. Luis is a very entrepreneurial and hardworking man, dedicated to his family, who is always fighting tirelessly to get ahead.

Currently, he is in his third loan cycle, and he wishes to invest in a new sewing machine in addition to the purchase of fabric, thread, and buttons in bulk. This will give him the opportunity to streamline his production process, since the machine he would like to buy can sew and stick buttons. With this machine he will be able to work more efficiently, will be able to produce more of his own clothing line to sell, and will be able to offer a variety of fabrics and colors that satisfy the demands of his clients. All of this will be reflected in the increase in his contracts and sales, and will have a positive impact on his family's income. He will advance towars his main dream of registering his business and creating new employment opportunities for others, while significantly improving the quality of life for his family and offering a better education to his children.
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Luis, con 53 años de edad vive con su esposa y 3 hijos. Desde hace 6 años se dedica a la confección, posee contratos con terceros y además creó su línea propia de blusas, sudaderas, bermudas, entre otros; cuenta con el apoyo de su esposa y, la producción que sacan, es vendida en diferentes pueblos de la región antioqueña; de esta manera ha logrado obtener los ingresos suficientes para solventar las necesidades básicas de su familia, luego de haber pasado por situaciones económicas difíciles debido a la falta de oportunidades de empleo. Luis es un señor pujante, emprendedor y dedicado a su familia, quien es el motor principal de su vida y por quien lucha incansablemente para salir adelante.
Actualmente solicita el tercer ciclo de crédito, que desea invertir en la compra de activo fijo (máquina ojaladora), además de insumos al por mayor (telas, hilos, botones). Esto le dará la oportunidad de agilizar su proceso de producción, ya que la máquina que desea comprar, además de hacer los ojales, también sirve para pegar botones; así podrá cumplir con la entrega de la producción de manera oportuna, tendrá la capacidad de sacar más producción de línea propia para la venta y podrá ofrecer variedad de telas y colores que satisfagan las necesidades y gustos de sus clientes. Todo esto se verá reflejado en el incremento de sus contratos, sus ventas y afectará positivamente sus ingresos familiares. Además avanzará hacia el cumplimiento de su principal sueño que es acreditar su negocio y generar nuevas oportunidades de empleo, mejorará significativamente la calidad de vida de su familia y podrá ofrecer una mejor educación a sus hijos.

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.

Tags

About Colombia

  • $6,070
    Average annual income
  • 557
    View loans »
    Colombia Loans Fundraising
  • $14,700,225
    Funds lent in using Kiva
  • 1,922.2
    Colombia Pesos (COP) = $1 USD
Expired
A loan of $1,575 helped Luis Alberto to buy a sewing machine as well as fabric, thread, and buttons in bulk.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 22, 2013
Listed
Aug 23, 2013
Currency Exchange Loss:
Covered
Expired:
Sep 22, 2013