Ninfa Del Rocio
Update on Ninfa Del RocioNinfa is a creative person who wants to improve her life. Her four children have been her main motivation to go in search of better opportunities. For 12 years, she has worked making clothing and jewelry, which has allowed her to give her family a better quality of life. She has many customers due to the quality of her service.
She is requesting this loan to purchase supplies such as thread, needles, accessories, and fabric in order to continue to increase her sales. She hopes to improve her financial situation and give her children a better education, including access to a university education in the future.
Her dream is to have a large business and to become a source of employment for others.
Su mayor sueño es tener un gran negocio, y convertirse en una fuente generadora de empleo.
Previous Loan DetailsNifa is characterized by her great creativity, and thanks to this, she has been able to forge ahead with her business and offer excellent products. Ninfa has made clothes and costume jewelry for about 11 years. It has allowed her to contribute an income to cover the household expenses, which cons... More from Ninfa Del Rocio'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
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid