Francisca is a hardworking and active woman, who, at the age of 54, is the mother of 4 children and head of the household, as she has been separated from her husband for several years.
Over the course of her working life she has been employed by different companies in the city, but 18 years ago she decided to become independent, and she began making embroidered textiles to sell among her relatives and friends. Additionally, she supplements her income with the sale of catalog products, working alone every day from 10 a.m. until 6 p.m., and thus she has managed to generate the resources to pay for the family’s expenses.
She will invest the loan that she is seeking in the purchase of wholesale merchandise (perfumes, cosmetics, accessories, and clothing), which will allow her to have a greater variety of products available to offer her customers, thus improving the earnings that she obtains from her labor.
Francisca reveals that her greatest desire is to open a very big and well-organized dressmaking business that would generate employment opportunities and improve the living conditions and well-being of her family.
Francisca es una mujer trabajadora y activa, a sus 54 años de edad, es madre de 4 hijos y cabeza de hogar desde que se separó de su esposo hace varios años.
Durante su vida productiva trabajó como empleada en diferentes empresas de la ciudad, pero desde hace 18 años decidió independizarse y comenzó a hacer tejidos bordados para vender entre sus familiares y amigos, además complementa sus ingresos con la venta de productos por catálogo, trabaja sola todos los días de 10 am a 6 pm y así ha logrado generar los recursos para solventar los gastos familiares.
El crédito que solicita lo invertirá en la compra de surtido al por mayor (perfumería, cosméticos, accesorios, ropa) esto le permitirá tener más variedad de productos disponibles para ofrecer a sus clientes, mejorando las ganancias que obtiene por su labor.
Francisca manifiesta que su mayor anhelo es montar una empresa de confecciones grande, bien estructurada que le permita generar oportunidades de empleo y mejorar las condiciones de vida y bienestar familiar.
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.