Update on Oralia MargaritaOralia is a hard-working, active woman and the mother of an 11-year-old son who she has raised herself. After divorcing her husband, all the economic burden and responsibility fell on her shoulders.
She is 43 years old and has worked 15 years independently as a hairdresser. She runs her own beauty salon where she offers hair cuts, styling, and color; and she also sells merchandise such as clothing, cosmetics and personal care products to earn extra income for her son's well-being.
The loan she is requesting is to buy work supplies and tools (clothing, accessories, cosmetics, scissors, hair color, peroxide). This will enable her to continue in her work and to provide better customer service so she can increase her income.
Oralia says her greatest dream is to expand her business and generate employment opportunities in order to stabilize her family economy and give her son a better education and quality lifestyle.
Tiene 43 años de edad, 15 de ellos, dedicada a trabajar en el campo de la belleza de manera independiente, tiene su propia sala de belleza en la que presta servicio de corte, cepillado y químicos, adicionalmente vende mercancía como ropa, cosméticos y productos de aseo, para complementar los ingresos y así poder velar por el bienestar de su hijo.
El crédito que solicita será utilizado en la compra de mercancía y herramientas de trabajo (ropa, accesorios, cosméticos, tijeras, tinturas, agua oxigenada), esto le permitirá continuar con su labor y prestar un servicio de mejor calidad, para lograr aumentar los ingresos.
Oralia manifiesta que su mayor anhelo es poder ampliar su negocio y generar oportunidades de empleo, lo que será benéfico para estabilizar sus finanzas familiares y dar a su hijo una mejor educación y calidad de vida.
Previous Loan DetailsOralia, 43, has operated her own salon business for 15 years. She works seven days a week, cutting and combing hair and providing manicures and pedicures. She operates her shop in a space on one side of her house. Her sister helps her on weekends because she now has more customers than she can... More from Oralia Margarita's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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