Luz Elena is characterized as being a fighting and hard working woman. She was born in the countryside and live there until she was 17 years old when she moved to the city of Medellin. In search of better opportunities for life, Luz learned the trade of tailoring and has been dedicated to this activity since the death of her husband with the goal of guaranteeing a dignified home and a good education for her son.
Currently she is requesting a loan that will be invested in the purchase of an overlock sewing machine and resources (thread) with the aim to complete the requested production for a company in the city.
She wishes to expand her income and improve the quality of life of her family.
Luz Elena, se ha caracterizado por ser una mujer luchadora y esforzada. Nació en el campo y vivió allí hasta hace 17 años que se radicó en la ciudad de Medellín. En búsqueda de mejores oportunidades de vida, Luz aprendió el oficio de la confección y se dedicó a esta actividad después de la muerte de su esposo con el fin de garantizarle a su hijo una vivienda digna y una buena educación.
En la actualidad se encuentra solicitando un crédito que invertirá en la compra de una máquina fileteadora e insumos (telas) con el fin de realizar la producción solicitada por una empresa de la ciudad.
Desea aumentar sus ingresos y mejorar la calidad de vida de su familia.
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.