Maria Eloisa is a married woman and the mother of 2 children. Now she works in making and doing repairs on clothing, work that she does along with her husband during long work days to fill the orders of her customers. In this way she obtains the income to satisfy the basic needs of her household. She is familiar with this business because it is a family tradition that has had significance over time. With the loan that she is applying for with the corporation, she wants to do maintenance on the sewing machines and buy a batch of fabrics, with the goal of having more variety to offer her customers and delivering a well-finished product. In this way she hopes to increase her income. Her principal dream is to continue with her business and improve her service and sales to be able to continue contributing to the sustenance of her household and having a better quality of life.
María Eloisa es una mujer casada y madre de 2 hijos. Actualmente se dedica a confeccionar y hacer reparaciones de ropa, labor que realiza en compañía de su esposo durante largas jornadas diarias para cumplir con las solicitudes de sus clientes y, de esta manera obtiene los ingresos para satisfacer las necesidades básicas de su hogar. Conoció la actividad porque es una tradición familiar que ha tenido trascendencia en el tiempo. Con el crédito que solicita en la Corporación desea realizar el mantenimiento de las máquinas de coser y comprar un lote de telas, con el fin de tener más variedad para ofrecerle a sus clientes y entregar un producto bien terminado; de esta forma espera incrementar sus ingresos. Su principal sueño es continuar con su negocio, mejorar el servicio y las ventas para poder seguir aportando al sostenimiento de su hogar y tener una mejor calidad 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.