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Silvia Luz
Silvia’s a 42-year-old woman; she has two children and is separated at the moment. She’s worked for 10 years sewing clothes, an activity she learned empirically. She worked as an employee in several workshops where she perfected her techniques and acquired more occupational skills. All of this experience and knowledge acquired led to her being able to open her own business: a home-based workshop where she started to make her own line of pajamas, women’s blouses and athletic wear.

Silvia has had to face several problems because there are several criminal gangs in the zone where she’s located that extort and charge protection fees from merchants which led to her having to dismiss her employees that helped her and decrease her level of production. She changed from working all week in her workshop to just doing so on weekends and added to her income by being employed as an operator in another shop during the week. She did all this because she was forced to lower her profile to avoid being subject to any more danger from the criminal gangs.

She’s currently requesting a loan to buy supplies at wholesale (fabric, thread, buttons, elastic) taking advantage of available discounts for cash sales which will make it possible for her to have more variety to offer her customers and thus increase production since the second semester of the year means more orders that increase her income.

This allows her to dream with reaching her goal of opening a store in the medium run where she can sell her products and once again generate employment opportunities improving the quality of life of her family and of many others who take part in her work’s development.
View original language description ↓
Silvia es una mujer de 42 años de edad, tiene dos hijos y actualmente es separada. Hace 19 años se dedica a la confección, actividad que aprendió empíricamente; trabajó como operaria en varios talleres, donde perfeccionó su técnica y obtuvo más conocimientos del oficio. Toda esta experiencia y conocimientos adquiridos, le permitieron iniciar su propio negocio, un taller que ubicó en su casa, donde comenzó a confeccionar su línea propia de pijamas y blusas para dama y conjuntos deportivos. Silvia ha tenido que enfrentar varios inconvenientes, pues en la zona donde se encuentra ubicada, existen bandas criminales que están pendientes de la actividad de los comerciantes para cobrar vacunas y extorsiones, por lo que tuvo que prescindir de las empleadas que le ayudaban y bajar el ritmo de producción, pues pasó de laborar toda la semana en su taller, a hacerlo sólo los fines de semana, y complementar sus ingresos trabajando como operaria de otro taller durante la semana; todo esto, porque se vio obligada a manejar un bajo perfil para no correr más peligros con el grupo delicuencial. Actualmente, la cliente solicita el crédito, con el fin de invertirlo en la compra de insumos al por mayor (telas, hilos, botones, elásticos) aprovechando los descuentos que obtiene por compras de contado, lo que le permitirá tener más variedad para ofrecer a sus clientes y así aumentar la producción, ya que en el segundo semestre del año le realizan muy buenos pedidos, por lo tanto incrementa sus ingresos. Esto le permite soñar con cumplir el sueño de abrir un almacén a mediano plazo, en el que pueda comercializar sus productos y volver a generar oportunidades de empleo, mejorando la calidad de vida de su familia y la de muchas otras personas que influyen en el desarrollo de su labor.

Additional Information

More information about this loan


By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.

This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.

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
  • 177
    View loans »
    Colombia Loans Fundraising
  • $12,868,250
    Funds lent in using Kiva
  • 1,913.8
    Colombia Pesos (COP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $2,150 helped Silvia Luz to buy sewing supplies at wholesale.
77% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 27, 2013
Listed
Aug 28, 2013
Currency Exchange Loss:
Covered