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Aracelly
Sixty-six year old Aracelly is hard-working. From a young age she learned the dressmaking trade as she watched others do it. Dressmaking has become her main source of income as many years ago she started her own workshop in her home. From here Aracelly offers tailoring services and does repairs. Aracelly has the advantage of being known in the area, because of the excellent quality of her work. In addition, in order to earn a little more, Aracelly has a cart from which she sells all sorts of fast food at the weekend. Aracelly does not have a a fixed timetable for her work. Given her age, it is difficult to remain standing for a long time, or to do work requiring a lot of physical effort. However, this does not stop Aracelly from continuing to get ahead and doing what she likes. Aracelly is applying for a loan to invest in repairing her tabletop sewing machine and to maintain other equipment she uses for dressmaking. The equipment is deteriorating but this loan will allow Aracelly to offer better service and reduce production time. This will allow her to have more contracts and increase her income. Aracelly wants to be able to continue her work until, as she says, "God allows it", and she wants to be able to support herself financially and enjoy a peaceful old age.
View original language description ↓
Aracelly es una señora trabajadora de 66 años de edad, que desde muy joven conoció el oficio de la confección y lo aprendió de manera empírica y, ha hecho de esta actividad su principal fuente de ingresos, pues desde hace muchos años inició su propio taller de confección en su lugar de residencia, desde allí ofrece el servicio de confección a terceros y hace arreglos de modistería, cuenta con la ventaja de ser reconocida en el sector por la excelente calidad de sus trabajos. Adicionalmente y, para complementar sus ingresos, posee un carrito de perros en el que trabaja los fines de semana, ofreciendo todo tipo de comidas rápidas. No cuenta con un horario establecido de trabajo, pues por su edad, no le es fácil estar mucho tiempo de pie o realizar trabajos que impliquen mucho esfuerzo físico, sin embargo, esto no la detiene para seguir avanzando y haciendo lo que le gusta. Solicita el crédito para invertirlo en en la reparación de su máquina plana y realizar mantenimiento de otros equipos de confección, pues ya se están deteriorando, esto le permitirá ofrecer un mejor servicio y disminuirá el tiempo de producción, logrando así tener más contratos e incrementar sus ingresos personales. Aracelly sólo desea poder seguir realizando su labor como dice ella, "hasta que Dios lo permita" y poder sostenerse económicamente y disfrutar de una vejez tranquila.

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
  • 266
    View loans »
    Colombia Loans Fundraising
  • $13,600,025
    Funds lent in using Kiva
  • 1,880.8
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Aracelly to invest in repairing her tabletop sewing machine and to maintain other equipment she uses for dressmaking.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 12, 2013
Listed
Oct 13, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014