43-year-old Alba is a single mother with two children who are 17 and 12 years old. She says that she became interested in sewing when she was very young and decided to train in this field. She started her working life in a small workshop in her town. Four years ago, she decided to set up her own business because the firm she was working for experienced difficulties, laid off some staff and Alba was directly affected.
Alba is now grateful that she faced this difficulty because it allowed her to become a micro-businesswoman. She has managed to improve her financial situation and offer two direct jobs to people in her town.
Alba would like to expand and improve her service, so she is requesting a loan to invest in buying supplies. She will also make some structural improvements to her work space. She dreams of guaranteeing that her eldest son has access to higher education.
Alba de 43 años, es madre soltera de dos hijos de 17 y 12 años de edad. Asegura que desde muy joven se interesó por el oficio de la confección, por lo cual decidió capacitarse e iniciar su vida laboral en un pequeño taller de su localidad. Desde hace cuatro años decidió emprender su propio negocio, ya que la empresa entró en crisis y realizó un recorte de personal en donde Alba se vio afectada.
Hoy agradece haber atravesado esta dificultad, debido a que esto le permitió convertirse en una microempresaria, mejorando su condición económica y ofreciendo dos empleos directos en su localidad.
En la actualidad desea ampliar y mejorar su servicio por lo cual se encuentra solicitando un crédito que invertirá en la compra de insumos y adecuaciones locativas. Sueña con garantizarle a su hijo mayor 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.