Jennifer is 26 and has been a dressmaker since she was 14 years old, when she became pregnant. The father never took responsibility, so she had to be in charge of the needs and well being of her son. She worked for several years in this sector and for the past two years, decided to break away and set up her own workshop in her home so that she can spend more time with her two children, ages 12 and 9. Her biggest dream is to provide her family with a good education and guarantee them better opportunities in life, which is her reason for working hard to gain a more customers, allowing her to earn more income. She is currently requesting a loan that she will invest in a surger sewing machine and a level. Her goal is to increase production and improve her quality of life.
Jennifer de 26 años de edad, se dedicó al oficio de la confección desde sus 14 años, cuando quedó embarazada. El padre nunca se hizo responsable, por lo cual debió hacerse cargo del bienestar y las necesidades de su hijo. Laboró por varios años en este sector y desde hace dos años decidió retirarse y montar su propio taller en su vivienda con el fin de compartir más tiempo con sus dos hijos de 12 y 9 años de edad. Su mayor sueño es brindarle a su familia una mejor educación y garantizarles mejores oportunidades de vida, razón por la cual lucha por conseguir un mayor número de clientes que le generen mejores ingresos. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de una máquina recubridora y una plana con el propósito de incrementar su producción y mejorar su calidad de vida.
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.