Beatriz learned to knit when she was in school and thanks to all her experience is now able to operate her own workshop in her home with which she earns the income she needs to support her home. Her biggest challenge is that she is a single mother and head of the household, as the father of her children abandoned her some time ago. Given the difficulty of accessing startup capital, Beatriz has had to take out a loan to buy materials, such as thread, to fill some orders she has from her customers. Her dream is to advance this business and go on earning the income she needs for her home so that her children can have a higher quality of life.
Beatriz aprendió a confeccionar desde que estaba en el colegio y gracias a toda esta experiencia ahora puede tener en su hogar su propio taller de confección con el que genera los ingresos para el sostenimiento de su hogar. La mayor dificultad que tiene es que es madre soltera cabeza de hogar ya que el padre de sus hijos la abandonó hace un tiempo. Debido a la dificultad de capital que tiene, Beatriz debe acudir a un préstamo para comprar insumos como hilos para confeccionar unos pedidos que tiene por parte de sus clientes.
Su sueño es poder sacar este negocio adelante y continuar generando los ingresos para su hogar de modo que sus hijos puedan tener una mejor calidad de vida.
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.