Norelia is a lover of her work. Since she was a girl, she dreamed of being the best clothing manufacturer. Today, this is her reality. She has made a living since she was young in filling the daily orders that her neighbors have asked for. It was as Mrs. Norelia that she acquired this experience that she today credits as a great power and leading light in her service.
Her biggest dream is to be able to set up a large sewing workshop and to be able to offer many people an opportunity to be employed while at the same time trying to improve her own economic situation. In chasing this dream, she is asking for a loan that will allow her to buy the materials that she needs in order to start the New Year season off on the right foot.
Norelia es una amante a su trabajo, desde niña soñaba con ser la mejor confeccionista, y hoy es su realidad. Dedicada desde su juventud a realizar los encargos que diariamente le solicitaban sus vecinas fue como doña Norelia adquirió la experiencia que hoy la acredita como una gran eminencia del oficio. Su mayor sueño es poder montar un gran taller y poderle brindar a muchas personas la oportunidad de emplearse, al mismo tiempo que pretende que su situación económica mejore. En búsqueda de este propósito ella se encuentra solicitando un crédito que le permita comprar los insumos que requiere para comenzar con el pie derecho la temporada de fin de año.
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.