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Luz Gladis
Luz is 61 years old, and for twenty of those years she has earned her living sewing her own line of women’s blouses and shirts. This work became her only source of income after being widowed when her husband died. With the income she earns, she has managed to educate her two children and now she earns enough to support herself on a daily basis.

She works every day with one of her cousins and sells what she makes to family members, friends and neighbours both in the area where she lives and further afield.

Luz is seeking a loan to buy supplies at wholesale prices (fabric, thread, buttons, lace, and decorative items). These purchases will allow her to continue sewing and complete her current orders. As a result she will earn more money for her work.

As a future project Luz wants to grow her business, buy more sewing machines, and employ more people. In this way her business will be more profitable and the standard of living of her family will improve.

View original language description ↓
Luz tiene 61 años de edad, 20 de ellos se ha dedicado a confeccionar su propia línea de blusas y camisas para dama, esta actividad se convirtió en su única fuente de ingresos luego de haber quedado viuda, tras el fallecimiento de su esposo. Con los ingresos que percibe por su labor, logró dar estudio a sus dos hijos y actualmente le genera el sustento diario, trabaja todos los días en compañía de una prima y la producción es vendida a sus familiares, amigos y vecinos tanto en la ciudad donde vive, como en otro municipio de la región.
Solicita el apoyo del crédito para comprar insumos al por mayor (telas, hilos, botones, encajes y adornos), esto le permitirá sacar su producción y cumplir con los pedidos que tiene pendientes, obteniendo como resultado un incremento en los ingresos que percibe por su labor.
Luz manifiesta que su proyecto a futuro es ampliar su negocio, comprar más máquinas y generar empleo, para que éste sea más rentable y le brinde la posibilidad de mejorar las condiciones de vida para su familia.

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
  • 491
    View loans »
    Colombia Loans Fundraising
  • $15,259,900
    Funds lent in using Kiva
  • 1,924.0
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,050 helped Luz Gladis buy supplies at wholesale prices (fabric, thread, buttons, lace, and decorative items).
93% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 13, 2013
Listed
Jan 12, 2014
Currency Exchange Loss:
Possible
Ended:
May 17, 2015