Sandra is 31 years old and is the single mother of two children. All her life she has been sewing for various national companies to feed her family. She went out on her own five years ago and started her own workshop in her home and is providing work for others.
Her greatest advantage is the opportunity to care for her children and be able to help them with their schoolwork. She dreams of being able to buy a fileting and recovering machine to increase her production when classes resume. Since she doesn’t have her own resources to finance the purchase so she is asking for a loan. This is her only source of income; she is very professional, and has her customers’ loyalty. She hopes to be able to save up enough to buy her mother a dignified home.
Sandra de 31 años, es madre soltera de dos hijos menores de edad. Toda su vida se ha dedicado a laborar en confecciones en diferentes empresas nacionales, para llevar la comida a su hogar. Desde hace 5 años se independizó y monto su taller en la sala de su casa, en la actualidad se encuentra generando empleo a dos personas.
Sus mayor ventaja es la oportunidad que tiene de estar pendiente de sus hijos y poderles ayudar con las tareas del colegio. Sueña con poder comprar una fileteadota y recubridora para aumentar su nivel de producción en la temporada de inicio de clases, como no cuenta con recursos propios para financiar su compra ha recurrido a la solicitud de un crédito. Esta actividad es su única fuente de ingresos por lo cual le pone todo el profesionalismo para fidelizar sus clientes, espera poder ahorrar para comprarle a su madre una vivienda digna.
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.