Silvio has had a dressmaking business for many years and thanks to his experience he has been able to promote himself through his high quality dressmaking adjustments. With this business he has been able to get his wife and two children ahead. Every day he makes more of an effort to overcome the economic difficulties that his family has, as his region is suffering from a severe crises. This has made his sales decrease considerably. Thanks to the arrival of a large order Silvio needs a loan to buy supplies such as fabric, threads, buttons and other supplies to respond to the demand of his customers.
His dream is to extend his business and be able to offer an increasingly better quality of life to his family.
Silvio tiene el negocio de la sastería hace mucho tiempo, y gracias a esta experiencia que tiene ha podido identificarse por hacer arreglos a las prendas de vestir con muy buena calidad. Con este negocio ha podido sacar adelante su esposa y sus 2 hijos, y cada vez se esfuerza más para poder superar las dificultades económicas que tiene su familia, pues en su región están en grandes crisis y esto hace que sus ventas disminuyan considerablemente. Gracias a que le ha llegado un gran pedido, Silvio necesita de un préstamo para comprar insumos como telas, hilos, botones y otros insumos más para responder a la demanda de sus clientes.
Su sueño es agrandar este negocio y poder ofrecerle cada vez más una mejor calidad de vida a su familia.
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.