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María Del Carmen
María is 61 years old and has worked making dresses and clothing since she was very young. She learned this trade through experience. Her small work space is located at her home. Here, she works everyday without an established schedule because her time is based on the orders that she has pending. In this way she is able to earn enough income to get by everyday. María lives alone as her husband passed away a while ago.

She is now requesting financing support to buy a tabletop sewing machine and wholesale material including fabric, thread, lace, buttons and other items. This will allow her to improve her working conditions and fulfill the orders on time by having the material available to satisfy her customers' demands.

María will keep working hard in this way, stating that her age does not keep her from dreaming and for this reason she works everyday to fulfill her goal of expanding her business and generating employment opportunities. In this way she will be able to enjoy a higher standard of living and well-being.
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María, a sus 61 años de edad, se dedica desde muy joven a realizar trabajos de confección y modistería, actividad que aprendió de manera empírica, su pequeño taller se encuentra ubicado en un espacio de la casa donde reside, allí trabaja todos los días sin un horario establecido, pues depende de los pedidos que tenga pendientes; de esta forma genera los recursos económicos suficientes para su sustento diario, pues vive sola porque su esposo falleció hace algún tiempo.
Actualmente solicita el apoyo del crédito para comprar una máquina plana y materia prima al por mayor (telas, hilos, encaje, botones, entre otros), esto le permitirá mejorar las condiciones de trabajo y podrá cumplir con los pedidos de manera oportuna pues tendrá el material disponible para satisfacer las necesidades de sus clientes.
Es así como María desea seguir luchando, pues manifiesta que su edad no le impide soñar y por ello trabaja día a día para cumplir su objetivo de hacer crecer su negocio y poder generar oportunidades de empleo; así tendrá la posibilidad de disfrutar una mejor calidad de vida y bienestar.

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
  • 463
    View loans »
    Colombia Loans Fundraising
  • $14,624,200
    Funds lent in using Kiva
  • 1,934.8
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,300 helped María Del Carmen to buy a tabletop sewing machine and wholesale materials like fabric, thread, lace and buttons.
92% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 13, 2013
Listed
Dec 13, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 20, 2015