At the age of 43, Mrs. Ana Lucía has one child and has worked in her own sewing workshop for 12 years. She makes clothing and uniforms, and learned this work from a friend. Ana Lucia works with a neighbour and a family member in her workshop. She wants to buy an overlock sewing machine in order to improve her production; it will take her less time to complete an order with this machine. With this loan, Ana Lucia will be able to increase her income and improve her family's quality of life. Her dream is to have a large workshop and generate direct employment for her friends and family.
La señora Ana Lucía a sus 43 años de edad es madre de un hijo; se dedica desde hace más de 12 años en su propio taller a la confección de prendas de vestir y uniformes. La señora Ana Lucía aprendió esta labor de una amiga quien le enseño. La señora Ana Lucía trabaja en su taller con una vecina y un familiar. La señora Ana Lucía desea comprar una maquina filetiadora con la cual pueda mejorar los tiempos de entrega de los pedidos. Con lo anterior, la señora Ana Lucía podrá incrementar sus ingresos y mejorar la calidad de vida de su familia. El sueño de la señora Ana Lucía es tener un gran taller de confecciones y con este generar empleos directos para sus amigos y familiares.
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.