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Erika Alejandra
Erika, 23, is a young entrepreneur who has been in the sewing business since 2011. She learned her trade through observation and thought it would be a good opportunity for a profitable business. She set up her own sewing shop with the help of her husband who works as a teacher. With a previous loan she was able to buy her first sewing machine and started her activity little by little. Thanks to her daily efforts she has been able to improve her technique and skill.

She is currently requesting her second loan to buy an overlock sewing machine and wholesale supplies (fabrics, threads, buttons, snaps) so she can improve her work conditions and cut back on production time. This will increase her efficiency, sales volume and income so she can continue contributing to the household economy and strive toward her goal of expanding busines and becoming a fabric and dressmaking wholesale dealer. Erika is conscious that in order to meet her goals she must work with discipline, dedication and drive because it is the only way she and her husband will have a quality lifestyle.
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Erika es una joven emprendedora de 23 años de edad que se dedica a la confección desde el año 2011. Aprendió la labor por medio de la observación y vio en esta actividad una oportunidad de negocio rentable, por lo que inició su propio taller con la ayuda de su esposo que se desempeña como docente. Con el apoyo de un crédito anterior compró su primera máquina con la que comenzó a desarrollar su actividad y poco a poco, gracias a su trabajo diario, fue mejorando su técnica y su destreza. Actualmente solicita su segundo ciclo crediticio con el que desea comprar una máquina fileteadora e insumos al por mayor (telas, hilos, botones, resortes), con esto podrá mejorar las condiciones de trabajo y disminuirá el tiempo de producción aumentando su eficiencia, lo que se reflejará en más ventas y mejores ingresos, con los que podrá continuar aportando a la economía de su hogar y además avanzará para cumplir el sueño de hacer crecer su negocio hasta convertirse en una mayorista de telas y confección. Erika es consciente que para lograr sus objetivos debe trabajar con mucha disciplina, dedicación y empeño, sólo así podrá tener la calidad de vida que desea disfrutar al lado de su pareja.

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
  • 265
    View loans »
    Colombia Loans Fundraising
  • $13,496,050
    Funds lent in using Kiva
  • 1,880.8
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Erika Alejandra to buy an overlock sewing machine and wholesale supplies (fabrics, threads, buttons, snaps).
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 13, 2013
Listed
Oct 14, 2013
Currency Exchange Loss:
Possible
Ended:
May 22, 2014