Clara, 29, sees herself as sees herself as a great entrepreneur. She has designed and made footwear from her home for five years. She learned the job thanks to her father, who worked for many years in that field.
Clara's requesting a loan to invest in buying leather, fabric, glue, and other supplies so she can fill her customers' orders. With this investment she'll be able to increase her sales and generate greater income so she can give her 12-year-old daughter a good education and better living conditions.
Clara a sus 29 años de edad, se visiona como una gran empresaria, desde hace cinco años se dedica al diseño y fabricación de calzado desde su hogar. Actividad que aprendió gracias a su padre quien laboró por muchos años en la actividad. Con el fin de cumplir con los pedidos hechos por sus clientes, Clara se encuentra solicitando un crédito que invertirá en la compra de insumos como cuero, tela, pegante, entre otros. Con esta inversión podrá aumentar sus ventas y generar mayores ingresos con el fin de brindarle a su hija de 12 años de edad una buena educación y mejores condiciones 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.