Alba is 47 years old she has been making a living by making accessories for over 12 years. This is an activity she enjoys because her biggest passion is innovation. Her exclusive designs have enabled her to take part in fairs where she has the chance to display her designs and uses the opportunity to sell them.
Her greatest dream is to have a registered brand name which will be recognised. She is currently requesting a loan with which she will buy materials to continue with her activity, which is her only income and her means of livelihood.
Alba de 47 años de edad se dedica a al elaboración de accesorios, desde hace más de 12 años. Actividad que disfruta porque su mayor pasión es innovar. Sus diseños exclusivos le han permitido participar en ferias en donde tiene la oportunidad de mostrar sus diseños y de paso aprovecha para venderlos. Su mayor sueño es poder tener su marca registrada y que sea reconocida. En estos momentos se encuentra solicitando un crédito con el comprará materiales para seguir con su actividad, la cual es su única entrada económica y fuente de sustento
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.