Rosa has made a living as a tailor for many years. She's a single mother head of household and has been able to get her only child ahead with this work.
With so many years working in the job she has acquired excellent experience, allowing her to have good customers who always provide her with work.
Currently Rosa's big problem is the damaged roof in her workshop and, because she doesn't have sufficient capital to repair it, she's looking for a loan to buy the materials and pay for labor to repair the roof.
Her dream is to be able to improve her household's quality of life and also to have a bigger business.
Rosa se ha dedicado a la actividad de la confección desde hace muchos años, y con esta ha podido sacar adelante a su único hijo ya que es madre soltera cabeza de hogar. Con tantos años trabajando en la actividad ha podido adquirir una gran experiencia, lo que le permite tener buenos clientes que siempre le tienen flujo de trabajo. Actualmente Rosa tiene la gran dificultad de que en su taller de confección el techo está dañado, y como no cuenta con el capital suficiente para repararlo, Rosa busca un préstamo que le permita comprar los materiales y pagar la mano de obra para reparar el techo.
Su sueño es poder mejorar la calidad de vida que ofrece en su hogar y tener también un negocio más grande.
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.