María Eugenia, 27, has two children who are her reason to live. She strives every day to survive and face the challenges that arise daily. María learned dressmaking and currently works at it doing repair work for her neighbors. This activity generates income to support her children and provide them with an education. Her greatest wish is to have her own workshop so she can sew for third parties. To reach this dream she needs economic resources she does not currently have which is why she’s requesting this loan to buy a sewing machine and supplies like thread.
María Eugenia de 27 años de edad, tiene dos hijos los cuales son su razón de vivir, es por ellos que lucha cada día para conseguir la forma de sobrevivir a los avatares a los que se ven enfrentados diariamente. María aprendió el arte de la confección y actualmente se dedica a esta, realizando arreglos que sus vecinas le solicitan, esta actividad le proporciona los ingresos para sostener a sus hijos y poderles brindar educación. Su mayor deseo es poder tener su propio taller en el que pueda confeccionar a terceros. Para cumplir su sueño necesita de recursos económicos con los cuales no cuenta, por esta razón a recurrido a la solicitud de un crédito con el que espera comprar una máquina y materiales como hilos.
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.