María is 65 years old and head of her household, for her husband left her many years ago. She has been a seamstress for twenty years, first in the employ of several clothing companies, and now for a few workshops in her area, where she does embroidery and puts the finishing touches on clothes. María was fortunate enough to save money and to buy houses, from which she now derives a monthly income, which she needs to pay for household expenses. She is very determined, organised, and full of enterprising spirit. She is also very devoted to both her family and her work, and proudly states that her age does not get in the way of her doing what she likes. María asks for a loan in order to buy a sewing machine and supplies, so as to keep working and get more orders to fulfill. This will enable her to make her dream of buying more sophisticated sewing machines come true. This way, she would be able to fulfill orders for more workshops. She also wants to learn how to use these machines so as to then give single mothers an employment opportunity and improve her standard of living as well as theirs.
María, a sus 65 años de edad es madre cabeza de hogar, pues su esposo la abandonó hace muchos años. Desde hace 20 años se dedica a trabajar en el sector de confecciones, laboró en diferentes empresas como operaria y actualmente presta el servicio de bordado y terminación de prendas para algunos talleres de confección del sector donde reside. Durante todos los años que laboró, pudo ahorrar y adquirir propiedades, de las cuales hoy en día recibe una renta mensual, con lo que ha podido solventar los gastos de su hogar. María es una señora pujante, organizada, emprendedora y muy dedicada a su familia y a su labor, ella manifiesta que “su edad no es impedimento para hacer lo que le gusta”. Actualmente solicita el crédito con el fin de invertirlo en la compra de una máquina plana e insumos para continuar realizando su labor y poder obtener más contratos, lo que le ayudará a cumplir el sueño de comprar máquinas recubridoras para poder conseguir contratos con nuevas empresas y además desea capacitarse en el manejo de las mismas, esto le permitirá brindar oportunidades de empleo a madres cabeza de hogar y mejorar su 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.