Luz Eneidi is a great example of effort and valor for her family and those who know her. Since her youth, she has been designing under wear and pajamas, which has allowed her to help with the household expenses and create a small business in her home.
Eneidi has a dream that she's making a reality today: to own an overlock sewing machine that will enable her to transform her fabrics adding quality and value to her work, which will in turn generate more income. She is requesting a loan that will permit her to buy the machinery and invest in materials, as she doesn't have her won capital to invest in her business.
Luz Eneidi es un gran ejemplo de esfuerzo y valentía, para su familia y las personas que la conocen, desde su juventud se ha dedicado a la confección de ropa interior y pijamas, oficio que le ha permitido aportar para las obligaciones de su familia y crear una pequeña empresa ubicada en la sala de sus casa.
Eneidi tiene un sueño que hoy comienza hacer realidad, tener una máquina lifeteadora que le permita transformar sus telas con mayores índices de calidad proporcionando valor agregado a su trabajo y generando mayores ingresos, es por esto que recurre a la solicitud de un crédito que le permita adquirir la maquinaria e invertir en insumos, debido a que no cuenta con recursos propios para realizar esta inversión a su negocio.
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.