At the age of 34, Ruth is an enterprising woman and mother who has fought for her children’s wellbeing. She works every day with the hope of making progress and of moving her business forward. Ruth manufactures clothing for third parties but she’s currently facing the problem that one of her sewing machines stopped working properly and she has to buy a replacement part for it but she does not have enough money to do so. She is asking for a loan, therefore, to pay for the machine’s repair and to buy sewing supplies like fabric, thread, buttons and others.
Ruth dreams with improving her and her family’s quality of life and to do so wants to improve the quality and efficiency of her work so that sales will improve and income will increase thus attaining economic stability.
A sus 34 años de edad Ruth es una mujer y madre emprendedora que ha luchado por el bienestar de sus hijos, trabaja cada día con la ilusión de progresar y sacar su negocio adelante, Ruth se dedica a la confección a terceros pero actualmente enfrenta una dificultad con la máquina ya que su funcionamiento no es el adecuado y debe comprarle un repuesto, pero ella no cuenta con el monto de dinero necesario para comprar el repuesto, por lo que solicita un crédito que invertirá en el arreglo de la máquina, y compra de insumos para la confección como hilos telas botones y otros.
Ruth sueña con mejorar su calidad de vida y la de su familia, para ello quiere mejorar el servicio en calidad y efectividad, así mejorarán las ventas y sus ingresos se incrementarán logrando estabilidad económica.
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.