Update on Julia InésJulia is a single mother. She has a 24-year-old daughter and recently became a grandmother. All of her working life, she has been a seamstress. Many years ago, she started her own tailoring workshop and she currently does sewing for third parties, tailors clothing, and also provides photocopying services and reloads credit on cell phones.
These activities provide her with the income necessary to sustain her home since all of the economic responsibilities fall on her because the father of her daughter never contributed economically.
She makes all types of garments, but her specialty is knitting.
Julia is a persistent, thriving, active woman who is dedicated to her family and to her work. Little by little, she has been investing money in her business to make it grow. Her last acquisition was a coverstitch sewing machine, which occupies a lot of space and, due to this, her workshop is very tight. For this reason, she requests the support of a loan, since she hopes to make some adaptations to her workshop by demolishing a wall and installing a large window. Her goal is to use natural light to its full potential and be able to work comfortably. This will result in a shorter production time and will allow her to return the pending orders in a timely manner.
Julia dreams of her business surviving for a long time but, in the mean time, she would like to implement the production of her own line of lingerie, sportswear, and home goods. This would allow her to offer more employment opportunities to women who are the heads of their households and will also allow her to improve her living conditions so that her granddaughter can have a better quality of life.
Julia sueña con darle continuidad a su negocio, pero implementar a mediano plazo la fabricación de prendas con su línea propia de lencería, ropa deportiva y artículos para el hogar, de esta manera podrá ofrecer más oportunidades de empleo a madres cabeza de hogar y podrá mejorar las condiciones de vida para que su nieta pueda disfrutar de una mejor calidad de vida.
Previous Loan DetailsJulia, 42, is the mother of one daughter; she has worked making clothes for the last ten years. She works hard aiming at generating income for her and her family’s support. Today, she’s requesting a loan to buy supplies like thread, buttons, cords and elastic in order to fill a number of pendin... More from Julia Inés'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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Success!! The loan was 100% repaid