Friends, neighbors and family members are María Fabiola's customers. At 62 years of age, María Fabiola runs a dressmaking business from her home. In addition to carrying out her household chores she also makes maD.-to-measure clothes.
The biggest dream of this tireless fighter is to consolidate her business so that she can create jobs and improve her quality of life as sometimes what she earns is not enough to cover her household expenses.
For now, María Fabiola needs a loan to buy an overlock sewing machine which will allow her to speed up her sewing work which will allow her to take on more orders. She will also buy supplies such as threads, buttons, etc.
Amigos, vecinos y familiares son los clientes D. María Fabiola quien a sus 62 años D. edad se dedica a las confecciones desD. su hogar, allí además D. realizar los oficios propios D. su casa confecciona los pedidos D. prendas sobre medidas que realiza.
El mayos sueño D. esta luchadora incansable es consolidar su negocio para generar empleo y mejorar su calidad D. vida, pues en algunas oportunidades lo que gana no le alcanza para cubrir los gastos del hogar.
Por ahora María Fabiola necesita D. un préstamo para comprar una máquina fileteadota que le permitirá agilizar las costuras y así poder tomar más pedidos, así mismo comprará insumos como hilos, botones, entre otros.
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.