María Sorany R. G. learned the sewing profession when she was young. Although her husband works, his salary was not enough to cover their household expenses. That was when, with the support of a friend, she decided to start her own sewing business. She sews for third parties and has her own line. Her goal is to contribute to covering the household expenses.
María Sorany currently needs a loan to buy materials in order to start a new production and to increase her sales.
Desde pequeña María Sorany R. G. aprendió el oficio de la confección, aunque su esposo trabaja su salario no alcanzaba para cubrir los gastos del hogar, fue entonces cuando con el apoyo de una amiga decidió crear su propio negocio de confección a terceros y su propia línea con el fin de aportar para cubrir los gastos del hogar .
Actualmente Maria Sorany necesita de un préstamo para comprar materia prima e insumos con el fin de sacar una nueva producción e incrementar sus ventas.
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.