Julia, 42, is the mother of one daughter; she has worked making clothes for the last ten years. She works hard aiming at generating income for her and her family’s support. Today, she’s requesting a loan to buy supplies like thread, buttons, cords and elastic in order to fill a number of pending orders she currently has. Her greatest wish is to provide her daughter with the opportunity of attending college to become a professional so she can have access to better employment conditions.
Julia de 42 años de edad y madre de una hija, se dedica al oficio de la confección de prendas de vestir desde hace diez años. Trabaja fuertemente con el fin de generar ingresos para su manutención y la de su familia. Hoy se encuentra solicitando un crédito para la compra de insumos como hilos, botones, cordones y resortes. Con el fin de atender y cumplir con el número de pedidos con los que cuenta en la actualidad.
Su mayor deseo es brindarle a su hija la oportunidad de ingresar a la educación superior y formarse como profesional, con el propósito de acceder a mejores condiciones laborales.
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.