Sonia has a tailoring workshop since a long time ago at her home, with which she helped to get her family ahead financially. Her family is composed of her husband and her two children of six and seven years old. Because she offers very good quality in her production, in addition to provide service to others, she is also tailoring clothes to sell at her home. Doing so, she can have a little more income for her household.
The great difficulty she has had is the cost of education for her two children, and that is why at the moment she is undergoing a big hardship. To overcome it, Sonia is requesting a loan to buy supplies for tailoring such as fabric and linen, so she can meet some orders she has from her customers. Her dream is to grow her workshop and to increase her family income.
Sonia tiene un taller de confección desde hace mucho tiempo en su hogar con el que ha ayudado económicamente a sacar adelante a su familia que está compuesta por su esposo y sus 2 hijos de 6 y 7 años de edad. Gracias a que tiene muy buena calidad en su producción, adicional a prestar el servicio de confección a terceros también tiene su propia confección de ropa la cual vende en su casa, y de esta manera puede tener un poco de mejores ingresos para su hogar. La gran dificultad que ha padecido es el costo de la educación de sus 2 hijos, y es por esto que en el momento está atravesando una gran dificultad económica. Para superarla, Sonia busca un préstamo para comprar insumos para la confección como telas e hilos y responder a unos pedidos que tiene de sus clientes.
Su sueño es poder hacer crecer su taller y mejorar los ingresos 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.