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María Magdalena
María, 57, is married and has three children. Over 30 years ago she took a sewing course and then decided to open her own business offering sewing services to people in her neighborhood. In 1990, after having increased her knowledge and improved her techniques she began working for third parties so now her best client is a well-known sportswear store in the city. She works from home, which is well equipped, so she can alternate her work with the household activities.

The borrower is a delicate, hard-working, organized woman who has used her seven previous loans to strengthen her business. She is motivated to request another loan to buy wholesale supplies (canvas and styrofoam) so she can produce pending orders. This will increase her sales and attract more clients, giving her more income for household necessities.

María wants to continue working hard so that in the future she can launch her own line of sports uniforms and accessories. This will give her and the people she loves a better lifestyle.
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María, a sus 57 años de edad, es casada y madre de tres hijos. Desde hace más de 30 años aprendió el oficio de la confección en un curso de capacitación que realizó y luego inició su propio negocio donde prestaba el servicio de modistería a diferentes personas del sector donde residía. Desde 1990, luego de haber ampliado sus conocimientos de y haber mejorado sus técnicas ella comenzó a confeccionar para terceros y, actualmente su mayor cliente es una reconocida tienda de deportes de la ciudad. Su taller está ubicado en su casa, allí está muy bien estructurado y a la vez puede alternar su trabajo con las labores del hogar. La cliente es una mujer dedicada, luchadora y muy organizada, con el apoyo de 7 créditos anteriores ha logrado fortalecer su negocio, por esta razón se motiva a solicitar un crédito más para comprar insumos al por mayor (lona y espuma) con lo que podrá sacar una gran producción que tiene pendiente y podrá mejorar sus ventas, atrayendo más clientes, lo que se reflejará en mejores ingresos para solventar las necesidades básicas de su hogar. María desea seguir trabajando arduamente para que en un futuro su negocio le permita sacar una línea propia de artículos y uniformes deportivos, y que le permita disfrutar de una mejor calidad de vida al lado de las personas que ama.

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
  • 297
    View loans »
    Colombia Loans Fundraising
  • $13,971,825
    Funds lent in using Kiva
  • 1,880.8
    Colombia Pesos (COP) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,600 helped María Magdalena to buy wholesale supplies (canvas and styrofoam).
68% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 13, 2013
Listed
Oct 14, 2013
Currency Exchange Loss:
Possible