Update on Clara ElenaClara is a hard-working and entrepreneurial 60 year old woman who works constantly to provide the highest quality of living to her 3 children. She has at this time a small sewing business making all types of uniforms. She acquired this ability by working the greater part of her life in different fabric factories. She learned everything to do in the field and decided to start her own workshop some time ago.
Now Clara's goal is to have her own line and label of clothing and uniforms. She needs a loan of 2,000 PEN to buy supplies like fabric, thread, lace, buttons, sewing tools, etc. This will allow her to add some momentum to her business.
Clara's main dream is to formalize her workshop and generate employment for several people. Her major challenge are those times when clothing sales are low as this affects her directly. But with more variety of products she can sustain herself in the difficult times.
Ella en estos momentos posee un pequeño negocio de confección de todo tipo de uniformes, habilidad que adquirió después de trabajar gran parte de su vida en diferentes fábricas de confección textil, allí aprendió sobre todo este tema y decidió iniciar con su propio taller hace ya un tiempo.
Ahora la meta de Clara es poder tener su propia línea y marca de ropa y uniformes por eso necesita un crédito de $2.000.000 para comprar insumos como tela, hilos encajes, botones, herramientas de confección, entre otros. Que le permitirán obtener fuerza en su negocio.
El mayor sueño de Clara es tener un taller de confección formalizado y generar empleo a varias personas, pero su mayor desafío son las temporadas en las que la venta de ropa baja sus ventas y eso la afecta directamente, pero con más variedad de productos podrá sostener su negocio en estas épocas difíciles.
Previous Loan DetailsClara is 59 years old. She is the mother of three children. She has fought tirelessly to offer them a better quality of life. Her husband died some time ago and she has to take over responsibility for the home. In her youth, she learned how to sew and she perfected it with practice and made it into… More from Clara Elena'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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