María Cecilia is a 60 year old woman. She is married and has 2 children. She currently lives with her husband who supports her in her work. Maria Cecilia leaned dressmaking 15 years ago but it was only 2 years ago that she decided to start her own business, a dressmaking workshop where she
produces her own designs and also sews for third parties. Through this business she provides employment for 2 other people.
Currently Maria Cecilia is asking for a loan to buy a skiver machine which she needs in the workshop to meet more orders and increase production capacity, which in effect will increase client numbers, mean bigger returns and a proportional increase in her quality of life.
María Cecilia es una mujer D. 60 años D. edad, es una mujer casada y madre D. 2 hijos, aunque actualmente vive con su esposo, quien la apoya en su empleo. DesD. hace 15 años, María Cecilia aprendió el oficio D. la confección, pero solo hace 2 años decidió emprender su propio negocio, un taller D. confección donD. realiza sus propios diseños y también confecciona a terceras personas, mediante este empleo le facilita trabajo a 2 personas más.
Actualmente María Cecilia solicitó un préstamo para comprar una maquina fileteadora, que le esta haciendo falta en su taller para poder cumplir con mas contratos y aumentar la capacidad D. producción, teniendo como efecto, más clientes, mayores ingresos y un aumento proporcional D. su calidad D. vida.
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.