Luz Amparo is 34 years old and is a woman motivated by the desire of seeing her three children develop professional careers. She says that she was not able to attend university because of her family’s economic challenges. Her greatest dream is to see her children enjoy the privileges that she didn’t have.
Luz Amparo has been sewing since she was young, and learned this by working in her mother’s workshop for several years. Now she is working on her own in her home since her children demand much of her time and they are her priority. She is asking for this loan so that she can improve her production by buying a double stitch sewing machine. She wants to become better known so that she can increase her workload and provide better conditions for her family.
Luz Amparo de 34 años, es una mujer motivada por el deseo de ver sus tres hijos menores de edad realizados en su vida profesional. Cuenta que ella no pudo ingresar a la universidad debido a las carencias económicas de su familia y que su mayor sueño es que sus hijos gocen del privilegio que con el que ella no pudo contar. Luz Amparo desde joven se ha dedicado a la confección, oficio que aprendió en el taller de su madre y con la que laboró por varios años. En la actualidad se encuentra trabajando como independiente en su casa debido a que sus hijos demandan mucho tiempo y son su mayor prioridad. Desea poder mejorar su productividad e ingresos por lo cual se encuentra solicitando un crédito que destinará para la compra de una máquina de dos agujas. Espera poder ser reconocida con el fin de obtener mayor trabajo y ofrecerle a su familia una mejor condición de vida.
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.