Beda, 32, is a woman full of dreams with a clear life project. She has been making garments for third parties for 10 years and it has become her main means of financial support for her family. She dreams of having a big workshop with her own brand and the opportunity to create jobs for people with less economic resources in her area. Currently she asks for a loan to buy fabrics with the goal of finishing a product that has been ordered from her. She hopes that with this investment she can improve the quality of life at home and meet the demands of her customers.
Beda de 32 años de edad, es una mujer llena de sueños y con un proyecto de vida claro. Se dedica al oficio de la confección a terceros desde hace 10 años, el cual se ha convertido en su actividad económica para el sostenimiento de su familia. Sueña con tener un gran taller con su propia marca y brindar la oportunidad de generar empleo a las personas de más bajos recursos de su localidad. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de telas con el fin de sacar una producción que le han solicitado. Espera que con dicha inversión pueda mejorar la calidad de vida en su hogar y satisfacer la demanda de sus clientes.
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.