Update on Yorfi LedyYorfi, 34, is a woman who firmly believes that family is more important than all the riches and pleasures in the world. At age 20, she became pregnant with her first son and decided to stay at home and care for him. Thanks to one of her aunts, Yorfi learned how to sew and works out of her home as a seamstress, splitting her time between household chores, caring for her son and sewing. Her aim is to generate an income to help her husband cover the household expenses since the family needs have increased.
Three years ago she decided to reorganize her work and turn her informal job into a small business. Currently, she works from 8:00 a.m. to 6:00 p.m.
Her goal is to expand her business and buy more equipment. Therefore, she is requesting a loan to buy an overlock sewing machine so she can provide better service. She hopes this investment will allow her to increase her income and guarantee that her three minor children receive a quality education.
Desde hace tres años decidió organizar su negocio y cambiar su trabajo informal por la creación de una microempresa, actualmente labora de ocho de la mañana a seis de la tarde.
Su mayor sueño es poder incrementar su planta y equipo, por lo cual se encuentra solicitando un crédito con el fin de comprar una máquina fileteadora y ofrecer un mejor servicio. Espera que esta inversión le permita aumentar sus ingresos y garantizarles a sus tres hijos menores de edad una educación de calidad.
Previous Loan DetailsYorfi is married and has 3 children, aged 9, 11 and 14. Because her husband's income wasn't enough to pay for all of the household expenses, she decided to start working as a seamstress, which she learned how to do thanks to her mother. That was why, two years ago, she used her savings to open he... More from Yorfi Ledy's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
164View loans »