Donelia is married and has four children. In order to generate income to contribute to the household finances, she has a sewing service where she sews all types of clothes. Thanks to this business she is able to contribute financially. This way she gives her children a better quality of life and overcomes the household’s big financial difficulties.
As she has been presented with a great working opportunity for a company, Donelia needs to increase her production capacity. That is why she seeks a loan to buy a sewing machine, which will increase her production capacity and respond to her customers’ orders.
Her dream is to have large sewing shop and to improve her household’s quality of life.
Donelia se encuentra casada y tiene 4 hijos, y para generar ingresos con los cuales contribuye económicamente en su hogar, tiene un servicio de confección donde arregla todo tipo de prendas. Gracias a este negocio puede aportar económicamente y así ofrece una mejor calidad de vida a sus hijos y supera las grandes dificultades económicas del hogar. Como se le ha presentado una gran oportunidad de trabajo para una empresa, Donelia requiere aumentar su capacidad de producción, es por esto que busca un préstamo para comprar una máquina de confección con la cual aumente su capacidad de producción y responder a los pedidos de sus clientes.
Su sueño es poder tener un gran taller de confección y mejorar la calidad de vida de su hogar.
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.