Fabiana is 45 years old. Her work is sewing clothing, a trade that she learned thanks to the opportunity that she had to access a training program when she was 23 years old. Now she works in third-party manufacturing, for which she has to seek contracts and in turn employ a number of people to complete the contract. Her greatest joy is being able to offer other people the opportunity to work, especially women who are the heads of their families.
Fabiana dreams of setting up a big business where she can offer stability to her fellow workers. It is clear to her that to she needs time, effort, and dedication to achieve this. For now, she is seeking to increase her production capacity, for which she is applying for a loan with which she will finance the purchase of a flatbed sewing machine with two needles, with which she hopes to increase her income and improve her living conditions and those of her employees.
Fabiana de 45 años de edad, se ha dedicado a laborar en confecciones, oficio que aprendió gracias a la oportunidad que tuvo de acceder a un programa de formación a los 23 años de edad. En la actualidad se dedica a la confección a terceros, por lo cual debe buscar contratos y a su vez emplear a varias personas para cumplir con el objeto del contrato. Su mayor felicidad es poder ofrecerle a otras personas la oportunidad de laborar, especialmente a mujeres cabeza de familia.
Fabiana sueña con montar una gran empresa, en donde pueda ofrecerles una estabilidad a sus compañeras de trabajo. Tiene claro que para lograrlo necesita de tiempo, esfuerzo y dedicación. Por el momento busca ampliar su capacidad de producción por lo cual se encuentra solicitando un crédito con el que financiará la compra de una máquina plana de dos agujas con la que espera aumentar sus ingresos y mejorar las condiciones de vida de ella y sus empleadas.
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.