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Maria Elena
Maria is a seamstress who counts on a long stint of 13 years in the market offering her services to clothing companies and to whoever requests her services. Currently she relies on one person who works on set project goals and with whom she has progressed in small yet firm steps.

Given the implementation of technology and the strong competition evident in companies giving the merchandise to the provider who can complete a task in the least amount of time, Maria feels obligated to invest in her business. For these reasons she requests a loan to buy supplies and an industrial iron. This investment will bring many benefits with respect to production times. She hopes that the new work tools will expedite her jobs to bring a greater volume of clients.
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La señora María es una confeccionista la cual cuenta con una larga trayectoria de 13 años en el mercado ofreciendo sus servicios a empresas de ropa y cualquiera que llegue solicitando sus servicios, actualmente cuenta con una persona la cual trabaja a meta cumplida y con la que ha progresado a pequeños pero firmes pasos, ya debido a la implementación de tecnología y la fuerte competencia que se evidencia en estos tiempos y la cual la empresa le entrega la mercancía al proveedor que le realice el trabajo en un menor tiempo, María se ve en la obligación de invertir en su negocio es por esta razón que solicita un crédito para la compra de repuestos y una plancha industrial ya que esta inversión le traerá muchos beneficios respecto al tiempo de producción aspirando a que con estas nuevas herramientas de trabajo agilice sus trabajos para tener un mayor volumen de clientes

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.

About Colombia

  • $11,100
    Average annual income
  • 487
    View loans »
    Colombia Loans Fundraising
  • $15,254,800
    Funds lent in using Kiva
  • 1,881.2
    Colombia Pesos (COP) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $450 helped Maria Elena to buy supplies and an industiral iron to improve her turnaround times.
89% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 20, 2014
Listed
Jun 23, 2014
Currency Exchange Loss:
Possible
Ended:
Jun 18, 2015