Luz Mary is 43 years old and has been manufacturing clothing since she was a young woman. She is strongly committed to the development of her business and makes a great effort to win new customers every day in order to increase her household income. She has a sewing machine and is asking for a loan so that she can buy a restored machine that will allow her to increase production.
She dreams of having a more dignified life to provide her family, while at the same time provide better service to her customers.
Luz Mary de 43 años de edad, dedicada desde su juventud a la elaboración de prendas de vestir, es una guerrera comprometida con el desarrollo de su negocio, por ello día a día se esfuerza por conseguir nuevos clientes con el fin de obtener mayores ingresos para su casa. Cuenta actualmente con una máquina y en aras de incrementar su nivel de producción solicita un préstamo para la adquisición de una resortadora.
Ella sueña con tener una vida más digna para ofrecerle a su familia, al mismo tiempo que espera ofrecerles a sus clientes una mejor calidad en su servicio.
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.