Viviana, who is 48 years old, has been making clothing since her youth. This trade has allowed her to offer her children an education and a decent home.
Her husband abandoned her, so it fell to her to take responsibility for the home and for raising her children. She decided to set up her own business, since she did not have anyone who could take care of her children while she worked outside the home. Her business iis now focused on making underwear, which she sells in the stores in the municipality of Rionegro, Colombia. Her greatest dream is to be able to expand her production capacity and be a source of employment in her area.
Viviana wants to take advantage of the end-of-year season to increase her sales, and so she is applying for a loan that is destined for the purchase of basic supplies, with the goal of increasing her production and generating greater income for the benefit of her household.
Viviana de 48 años de edad se dedica a la confección desde su juventud. Este oficio le ha permitido ofrecerles a sus hijos educación y una vivienda digna. Su esposo la abandonó por lo cual le tocó tomar las riendas del hogar y sacar a sus hijos adelante. Decidió montar su propio negocio ya que no contaba con una persona que cuidara de sus hijos mientras ella laboraba fuera de casa. Hoy en día se ha enfocado en la confección de ropa interior la cual vende en los almacenes del municipio de Rionegro, Colombia. Su mayor sueño es poder ampliar su capacidad de producción y ser una fuente de generación de empleo en su localidad.
Viviana desea aprovechar la temporada de fin de año para incrementar sus ventas, por lo cual se encuentra solicitando un crédito que destinará en la compra de materia prima con el fin de aumentar su producción y generar mayores ingresos para el bienestar de su hogar.
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.