Gloria worked in business administration for over ten years but she was let go due to organizational restructuring. Since she was tired of working for other people she decided to set up her own business and started sewing women's clothing which her brother sells in the village.
Currently she is facing some difficulties because the roof of her shop is in need of urgent repair resulting in water leakage which can damage her merchandise. She will use part of the loan to buy fabrics for her business to increase sales of her products in the villages.
La señora Gloria es una administradora de empresas la cual empleo su profesión por más de 10 años y que luego fue despedida por recorte de personal en la empresa, cansada de prestar servicios a otra persona decidió montar su propio negocio, un taller de confección en la que realiza ropa para dama que posteriormente vende su hermano en un pueblo. Hoy en día presenta dificultades para seguir operando las cuales son realizar reformas locativas urgentes como reparar el techo ya que se filtra agua y se puede echar a perder mercancía, con el sobrante comprara telas para confeccionar y aumentar sus ventas posicionando sus productos en los pueblos
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.