Margarita is 41 years old. She has been designing and sewing clothes for more than fifteen years in a small workshop she has in her house’s living room. With this activity, Margarita has raised her son and guaranteed him a good education, and has supported her parents economically.
María’s biggest dream is to launch her own clothing brand and produce women shirts to sell in different stores around the area. This is why she is requesting a loan to buy fabrics, threads and needles to give her project a start and generate the resources needed to support her family.
Margarita de 41 años de edad, se dedica al oficio de la confección en un pequeño taller ubicado en la sala de su casa, desde hace más de 15 años.
Con esta actividad ha logrado sacar adelante a su hijo, gantizandole una educación de calidad y ha apoyado económicamente a sus padres.
Su mayor sueño es poder iniciar con su propia línea de confección y sacar una producción de camisas para dama, las cuales comercializará en los diferentes establecimientos del sector. Razón por la cual se encuentra solicitando un crédito para la compra de tela, hilos y agujas con lo que podrá comenzar a ejecutar su proyecto generando los recursos necesarios para el sostenimiento de su núcleo familiar.
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.