Gladis is 42 years old. She has been working in the garment industry for 15 years, an activity that allowed her to acquire the experience and maturity to start her own business and to work towards becoming independent.
Her daughter who is 4 years old, demands a lot of time, so she has decided to leave her job and start her own business, working everyday from 8:00AM in the morning until 4:00PM in the afternoon depending on the volume of work. The rest of her time she shares with her family.
She dreams of being able to buy an overlocking sewing machine, so that she can deliver the best quality garments and expedite their delivery, and this is the reason she is asking for a loan as she does not have the monetary resources.
Gladis de 42 años de edad, ha laborado en el sector de la confección desde hace 15 años, actividad que le permitió adquirir la experiencia y la madurez para montar su propio negocio y trabajar como independiente.
Su hija de 4 años de edad, le demanda mucho tiempo, por lo cual tomó la determinación de retirarse de su trabajo y crear su empresa, labora diariamente de ocho de la mañana a cuatro de la tarde dependiendo el volumen del trabajo. El resto del tiempo lo comparte con su familia.
Sueña con poder comprarse una máquina fileteadora, la cual le permitirá entregar prendas de mejor calidad y agilizar la entrega de las mismas, por esta razón se encuentra solicitando un crédito ya que no cuenta con los recursos monetarios.
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.