María is 51 years old and works as a self-employed vendor. For the past 8 years she has been selling wool articles that she knits herself, such as scarves, gloves, ski masks and other products. She leaned this trade through trial and error, and she gradually refined her technique and improved the quality of her products. In addition, she offers lessons to her customers, which for her represents an addition to her income.
With the drive to continue doing her work, she requests the help of this loan so that she can purchase supplies on wholesale (wool and needles for sewing). That way she'll be able to offer new product designs and satisfy her customers' tastes, thus increasing her sales.
María reports that her biggest motivation for getting up and working hard everyday is being able to acquire her own house. She also aims to set up a grocery store that ensures her financial stability so she can enjoy better living conditions and improve her well-being.
María, a sus 51 años de edad, se dedica a trabajar como comerciante independiente, pues desde hace 8 años se dedica a vender artículos en lana que ella misma teje a mano como bufandas, guantes, pasamontañas y otros productos; el oficio lo aprendió de manera empírica y poco a poco ha ido perfeccionando su técnica y la calidad de los productos, adicionalmente le brinda clases a sus clientes, lo que para ella significa un complemento para sus ingresos.
Con el ánimo de darle continuidad a su labor, solicita el apoyo del crédito para comprar materia prima al por mayor (lana y agujas para tejer), así podrá ofrecer nuevos diseños de productos y satisfacer los gustos de sus clientes, logrando aumentar las ventas.
María manifiesta que su mayor motivación para levantarse y luchar cada día es poder adquirir una casa propia y montar un almacén que le garantice una estabilidad económica para disfrutar de una mejor calidad de vida y bienestar.
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.