Nubia Del Socorro
Update on Nubia Del Socorro64 year old Nubia keeps working hard to bring up her two children. She is a mother and head of the household and all the economic responsibilities have fallen on her since she separated from her ex-husband. When she was very young, she learned to be a dressmaker and she perfected her technique and her knowledge while working in different sewing workshops. After some years, when she had enough capital to be independent, she bought her own machines and started her workshop where she offers her dressmaking skills to others and also produces her own line of clothes. This has generated enough income to cover the basic household expenses.
In an effort to strengthen her business, she is requesting a loan to buy fabric, thread, sewing machine needles, and other things. This will enable her to have the supplies available to meet the orders she has for the school year that is about to start, so that her work increases as well as her income.
Nubia's main purpose is to strengthen her business and turn it into a competitive micro enterprise that can generate employment opportunities and guarantee the economic stability that will enable her to giver her children a better education and quality of life.
Con el ánimo de fortalecer su actividad, solicita el apoyo del crédito para comprar telas, hilos, agujas para las máquinas, entre otros; esto le permitirá tener disponibilidad de insumos para poder cumplir con las producciones que tiene pendientes para la temporada escolar que comienza, en la que su trabajo se incrementa, al igual que sus ingresos.
Nubia tiene como propósito principal, fortalecer su negocio y convertirlo en una microempresa competitiva, en la que pueda generar oportunidades de empleo y así garantizar una estabilidad económica que le permita dar a sus hijos una mejor educación y calidad de vida.
Previous Loan DetailsNubia del Socorro is 60 years old. She is a small business owner who has worked hard, and with sacrifice and dedication, has managed to assemble her workshop. She works Monday to Sunday from 8am to 5pm. She employs two of her neighbors. Her biggest dream is to be able to expand her business an... More from Nubia Del Socorro's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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