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Nidia Del Socorro
Nidia arrived in the city eight years ago. She moved from her home town with her husband and her two children, ages 8 and 10, in search of new alternatives for getting ahead as a family. After getting settled she started to work in a tailor shop where she gained experience and knowledge. A while later she decided to go out on her own to generate better income and spend more time with her children.

Nidia's workshop is located in the house where she lives, where she makes clothing for third parties. For lack of a machine, however, she does only part of the production, then has to send it to another shop for the overlocking process. This results in a notable drop in the productivity of her business.

This motivates her to request the support of the loan, with which she wants to buy the overlock machine that she needs. With it she'll have the capacity to do the complete sewing process and increase her sales and, as a result, her profitability.

Nidia keeps on striving to get her business ahead because it has become her main source of income. She dreams of making it a great tailor shop that will provide job opportunities and guarantee her a favorable economic stability to give her children a better education and quality of life.
View original language description ↓
Nidia llegó a la ciudad desde hace 8 años, se trasladó desde su pueblo natal con su esposo y sus dos hijos de 8 y 10 años, en busca de nuevas alternativas que le permitieran salir adelante como familia. Luego de radicarse, comenzó a trabajar como operaria en un taller de confección donde obtuvo la experiencia y el conocimiento, un tiempo después decidió independizarse para generar mejores ingresos y pasar más tiempo con sus hijos, su taller está ubicado en la casa donde reside, allí presta el servicio de confección a terceros pero por falta de una máquina ella realiza sólo una parte de la producción y luego debe enviarla a otro taller para la elaboración del proceso de fileteado; generando una disminución notable en la rentabilidad de su negocio. Esto la motiva a solicitar el apoyo del crédito con el que desea comprar una máquina fileteadora que le hace falta, pues con ella estaría en la capacidad de realizar el proceso de producción completo y así aumentaría sus ingresos y por ende la rentabilidad.
Nidia sigue luchando para sacar adelante su negocio, pues se ha convertido en su principal fuente de ingresos y sueña con hacer de éste, un gran taller de confección en el que pueda generar oportunidades de empleo y que le garantice una estabilidad económica favorable para dar a sus hijos una mejor educación y calidad de vida.

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.

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About Colombia

  • $11,100
    Average annual income
  • 562
    View loans »
    Colombia Loans Fundraising
  • $14,901,425
    Funds lent in using Kiva
  • 1,934.7
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,050 helped Nidia Del Socorro to buy an overlock machine.
92% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 13, 2013
Listed
Dec 15, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 20, 2015