Check out some available loans that are similar to this one!
Martha Elena
Martha is 49 years old, the mother of two children, and lives with her boyfriend. She learned to weave wool by observing others and has for 11 years woven and sold wool handicrafts. Martha makes scarves, gloves, face masks, and other wool items. Her business has allowed her to work at home while earning an income to support her family. Martha earns additional income for personal expenses by teaching classes in weaving and making wool handicrafts.

Hoping to strengthen her business, Martha is applying for a loan to purchase wholesale raw materials (wood and knitting needles). This purchase will ensure sufficient supplies to meet the end-of-year demand for Martha's handicrafts and allow her customers to choose from a great variety of products. Satisfied customers will make Martha's business more profitable.

Martha observes that her greatest wish is to be able to keep teaching anyone who wants to learn how to weave and make wool handicrafts. It is important to her that artisanal culture not disappear from her city and she's pleased that she helping ensure the survival of this art form into the future.
View original language description ↓
Martha, con 49 años de edad, es madre de dos hijos y vive en unión libre con su compañero sentimental. Durante los últimos 11 años de su vida productiva se ha dedicado a elaborar y comercializar artesanías en lana como bufandas, guantes, pasamontañas, entre otros; actividad que aprendió de manera empírica y que le ha permitido estar pendiente de su hogar, al mismo tiempo que genera ingresos para aportar a la economía familiar; además alterna su labor, dictando clases de tejido en lana, lo que le genera un ingreso adicional para solventar sus gastos personales.
Con la motivación de fortalecer su negocio, solicita el apoyo del crédito para comprar materia prima al por mayor (lana y agujas de tejido), para abastecerse lo suficiente y así estar en la capacidad de satisfacer la demanda de sus productos en la temporada de fin de año; logrando que sus clientes queden puedan escoger entre las diversas alternativas de productos y queden satisfechos con sus compras; lo que para ella significa un incremento notable en su rentabilidad.
Martha manifiesta que su principal anhelo es poder seguir transmitiendo sus conocimientos en la elaboración de este tipo de productos a todas las personas que lo deseen, pues para ella es importante que la cultura de artesanos no se pierda en la ciudad y se siente satisfecha sabiendo que con su aporte este arte puede perdurar en el tiempo.

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
  • 306
    View loans »
    Colombia Loans Fundraising
  • $13,787,625
    Funds lent in using Kiva
  • 1,934.7
    Colombia Pesos (COP) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped Martha Elena to purchase wholesale raw materials (wool and knitting needles).
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 13, 2013
Listed
Dec 15, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014