Gloria Elena is a 43 year old, single mother with three children. All her life, she has had to look after her children’s welfare and education. She is a strong woman who has not let herself be defeated by difficult situations she has had to go through to get her family ahead. Two years ago, taking advantage of her sewing skills, she decided to become a micro-entrepreneur. She designs and makes beds, leashes, and accessories for dogs. Her small workshop is located in an area of her home where she works daily from seven in the morning until five in the evening. She sells her products in pet shops in the town of Itagüí.
Her greatest desire is to be able to assure her children the opportunity to access higher education and become successful professionals. She also seeks to strengthen her business and generate the income she needs to sustain her home. For this reason, she is requesting a loan to purchase an overlock sewing machine and coverstich sewing machine in order to increase production and sales.
Gloria Elena de 43 años de edad, es madre soltera de 3 hijos. Toda su vida ha tenido que velar por el bienestar y la educación de ellos. Es una mujer fuerte que no se deja derrotar por las situaciones difíciles que ha tenido que atravesar para sacar adelante su familia. Desde hace dos años decidió convertirse en una microempresaria aprovechando sus habilidades para la costura; confecciona y elabora camas, correas y accesorios para caninos. Su pequeño taller lo ubicó en un espacio de su casa en donde trabaja diariamente de siete de la mañana a cinco de la tarde. Sus productos los ofrece en las tiendas de mascotas del municipio de Itagüí.
Su mayor anhelo es poder garantizarles a sus hijos la oportunidad de acceder a la educación superior y convertirse en grandes profesionales. Así mismo busca que su empresa se consolide y pueda generar los ingresos necesarios para el sostenimiento de su casa. Por esta razón se encuentra solicitando un crédito para la compra de una fileteadora y recubridora con el fin de aumentar su producción y ventas.
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.