María has worked for 20 years in tailoring, with which she generates the income she needs in her household to support her two children. Thanks to the good quality of her products, now she can have good customers who always guarantee work for her. This has allowed her to have the economic stability that improves her household considerably.
Looking to improve her income, María wants a loan to buy a sewing machine and the supplies she needs to offer her customers more work and to increase her production capacity.
Her dreams are to be able to get ahead in this business and for her children to have a better quality of life. She also wants to get her own house.
Maria trabaja desde hace 20 años en la actividad de la confección y de esta manera genera los ingresos que requiere en su hogar para el sostenimiento de sus 2 hijos. Gracias a la buena calidad de sus productos, ahora puede contar con buenos clientes que le garantizan siempre trabajo, y esto ha permitido que la estabilidad económica en su hogar mejore considerablemente. Buscando mejorar sus ingresos, Maria busca un préstamo para comprar una máquina plana e insumos que requiere para ofrecer más trabajos a sus clientes y aumentar la capacidad de producción.
Su sueño es poder sacar adelante este negocio y que sus hijos puedan tener una mejor calidad de vida. Además tiene el anhelo de llegar a conseguir su casa propia.
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.