At the age of 43, Inés is a mother of four children. She has been sewing clothing for third parties for the past 10 years. Her work is defined by the love and commitment she puts into every garment she makes. She's currently requesting a loan in order to purchase a button attaching machine, so she can increase her profits and deliver the requested orders within the shortest possible time. In the future she wishes to expand her dressmaking shop and provide a new source of employment for her community.
Inés a sus 43 años de edad, es madre de cuatro hijos. Se dedica a la confección de prendas de vestir a terceros desde hace 10 años. Su trabajo se caracteriza por el amor y el compromiso que le impregna a casa prenda elaborada. En la actualidad se encuentra solicitando un crédito para la compra de una máquina botonadora, con el fin de aumentar sus ingresos y hacer entrega en el menor tiempo posible de los pedidos solicitados. A futuro desea expandir su taller y generar nuevas fuentes de empleo a su comunidad.
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.