Dora, 62, says that one of her greatest passions is embroidery, so she has been making quilts ever since she was young. This business has allowed her to earn an income to support her family. Thanks to her experience and the quality of her products, she now has a good customer base and is known for her work.
Since the volume of orders she has now is high, she is requesting a loan to buy fabric and supplies so she can fill all the orders.
She hopes to expand her business through this investment and would like to offer decent jobs to women who are heads of household.
Dora de 62 años de edad, asegura que una de sus mayores pasiones es bordar, por lo cual se dedicó a la elaboración de acolchados desde su juventud, actividad que sigue realizando y le ha suministrado los recursos para el sostenimiento de su familia. Gracias a su experiencia y la calidad de sus productos, hoy goza de buena clientela y de reconocimientos por su labor.
En la actualidad el nivel de pedidos es alto, por lo cual se encuentra solicitando un crédito que invertirá en la compra de telas e insumos con el fin de cumplir con los pedidos solicitados.
Espera que con dicha inversión, pueda expandir su negocio y ofrecerles a las madres cabeza de familia un empleo digno.
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.