Liliana, 24, is a young person who has had to look for alternatives to get ahead. Her family is what is most important to her; she's worked hard to provide her parents and her 3 year-old child with food and shelter.
With few job opportunities, due to her lack of education, Liliana found a great opportunity to start her own business. Thanks to a friend, who taught her some skills, Liliana makes shoes and belts which she sells in the center of the city. This activity has allowed her to improve her family's living conditions. Liliana wants to increase her production capacity so that she can guarantee that her child gets an education, and that her parents can live a decent life.
For this reason, Liliana is requesting a loan to buy raw materials (leather) and supplies to make her products.
Liliana de 24 años de edad, es una joven que ha tenido que buscar alternativas para salir adelante. Su familia es lo más importante para ella, por lo cual se ha esforzado por suministrarles a sus padres y a su hijo de tres años de edad, alimentación y vivienda.
Con pocas oportunidades de emplearse, debido a su bajo nivel educativo, esta mujer encontró una gran oportunidad para crear su propio negocio. Gracias al aprendizaje que adquirió por medio de una amiga, esta mujer elabora calzado y correas, los cuales distribuye en el centro de la ciudad. Esta actividad le ha permitido mejorar las condiciones de vida de su familia, por lo cual desea incrementar su capacidad de producción a fin de garantizarle a su hijo educación y una vida digna a sus padres.
Por esta razón se encuentra solicitando un crédito para la compra de materia prima (cuero) e insumos para la fabricación de sus productos.
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.