María Margarita is 54 years old and, with sacrifice and dedication, she has managed to start up her own dressmaking workshop. She works Monday to Sunday from 7am until 6pm. She started this work twenty years ago and says that, thanks to it, she has been able to provide food and education to her six children.
María currently makes pyjamas and sweatshirts for different businesses in the area.
Her biggest dream is to generate jobs and increase production so that, in addition to improve her own living standards, she can do the same for other families. María is currently applying for a loan to buy a coverstitch sewing machine so that she can improve the quality of service she offers and increase production.
María Margarita de 54 años de edad es una mujer que ha logrado con sacrificio y dedicación montar su taller de confección a terceros en el cual labora de lunes a domingo de 7 de la mañana a 6 de la tarde. Comenzó su oficio desde hace veinte años y asegura que gracias a este ha podido brindarles a sus seis hijos una educación y alimento.
En la actualidad se dedica a la confección de pijamas y sudaderas, para diferentes empresas del sector.
Su mayor sueño es generar fuentes de empleo y aumentar su nivel de producción con el fin de mejorar no sólo su calidad de vida sino las de otras familias. Hoy se encuentra solicitando un crédito para la compra de una máquina recubridora con el fin de mejorar la calidad en el servicio e incrementar su producción.
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.