Eliana learned tailoring 5 years ago and has made her living from it ever since. Her income helps to cover household expenses for her, her husband and their two children, 14- and 13-years old, respectively. She worked for a company, at first, and after 4 years, used the experience she gained and the money she saved to start her own tailoring business. She bought a basic sewing machine and set up her own shop. Thanks to the quality of her work, she has a good base of customers now. Eliana is applying for a loan because she has large orders and needs extra funding to meet demand. She will use the loan to buy fabric, thread and other supplies so that she can fill the orders she has.
For the future, Eliana would like to open a larger shop where she can employ some of the many people who need work. She is working hard to grow her business and increase her income.
Eliana estudió confección hace 5 años, y desde entonces se ha dedicado a esta actividad, permitiendo así generar ingresos con los cuales contribuye económicamente en su hogar donde convive con su esposo y sus 2 hijos de 13 y 14 años de edad. Comenzó trabajando en una empresa, y luego de 4 años aprovechó la experiencia adquirida y con unos ahorros compró la maquinaria básica y así montó su propio taller de confección donde ofrece el servicio de confección a terceros, y gracias a la buena calidad de sus productos ha logrado captar una gran cantidad de clientes. Gracias a que tiene grandes pedidos por parte de sus clientes, Eliana busca un préstamo que le permita comprar materia prima como telas, hilos y demás insumos que requiere para responder a los pedidos que le han hecho sus clientes.
Su mayor anhelo es tener un gran taller donde pueda generar empleo para los más necesitados, por esto se esfuerza diariamente para salir adelante y mejorar sus ingresos.
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.