María, 50 years old, makes a living producing clothing. She received much support from her family when she learned this trade. Thanks to her experience and the quality service she provides, María is one of the most frequented seamstresses around her town. she affirms that her job has become her passion: for María making dresses and suits represents a world of creativity and style.
Currently, María is looking to expand her business because of the increasing demand from customers that she has see during the last few years. For this reason, she is requesting a loan. She will do some renovations and invest in the purchase of necessary supplies for her business.
María dreams of improving the quality of life at home and providing her 20-year-old daughter with access to a higher education.
María de 50 años de edad, se dedica a la confección de ropa, gracias al apoyo de su familia quien le brindó la oportunidad de capacitarse en este oficio. Gracias a su experiencia y la calidad en el servicio, esta mujer es hoy una de las más cotizadas en su municipio para la elaboración de vestidos y trajes.
Afirma que su trabajo se ha convertido en su gran pasión, el cual representa un mundo lleno de creatividad y estilo.
En la actualidad María busca expandirse debido al crecimiento que ha tenido en los últimos años, motivo que la ha impulsado a solicitar un crédito para realizar adecuaciones locativas e invertir en la compra de insumos necesarios para el desarrollo de su actividad. Sueña con mejorar la calidad de vida de su hogar y garantizarle a su hija de 20 años el acceso a la educación superior.
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.