Blanca Elvira's dream is to have her own premises where she can carry out her dressmaking business. Blanca has been working in this trade, which she learned through training in some institutions, for some years. She had always hoped to become self employed.
Blanca is a tireless fighter who works every day to expand her business. She currently has three employees who are all mothers and heads of household. They all come from the Medellín neighborhood where Blanca lives. She provides them with as much support as she is able. This entrepreneur needs a loan to make some improvements to her workplace and buy some supplies.
Llegar a tener un local propio en el que pueda realizar las confecciones es el sueño de Blanca Elvira, quien desde hace algunos años se dedica a este oficio el cual aprendió capacitándose en algunas Instituciones, pues siempre había tenido la ilusión de trabajar como independiente.
Blanca es una luchadora incansable que trabaja día a día por ampliar su negocio, actualmente cuenta con 3 empleadas, todas madres cabeza de familia del barrio de Medellín en el que vive a las cuales les brinda el apoyo que está a su alcance. Esta emprendedora necesita de un préstamo para realizar algunas adecuaciones locativas y comprar algunos insumos.
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.