Yolanda is an entrepreneurial woman; she has worked all her life in the business of making clothing -- a skill that she has learned 40 years ago thanks to a cousin who took the time to teach her. Since then, she has always tried to learn more about the manufacturing process.
Yolanda works every day from 7am until 6pm, due to a large amount of orders. Even so, sometimes she does not have enough time because she does not have a flat sewing machine -- something that she needs to speed up the manufacture. Once she can purchase this tool, she will be able to give a better quality finish to her products and to obtain additional work.
Yolanda es una mujer emprendedora que ha dedicado toda su vida a confeccionar prendas de vestir; aprendió el oficio hace 40 años gracias a una prima quien se encargó de enseñarle y desde entonces se ha dedicado a saber más acerca de la confección.
Trabaja día a día de 7a.m. a 6p.m debido a que tiene gran cantidad de pedidos por entregar, sin embargo el tiempo a veces no le es suficiente puesto que Yolanda necesita una máquina plana para agilizar la producción. Con la compra de esta herramienta ella podrá darle mejor calidad al acabado de sus productos y generará un empleo adicional.
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.