Veronica worked for several years as a sewing machine operator in a upholstery shop. Six months ago, she decided to become independent and have her own upholstery business.
In her shop, she produces furniture of very good quality and with very aesthetically pleasing results. She can not produce enough to keep up with demand. She needs to buy more equipment to improve production and quality such as a compressor and a dual needle sewing machine.
With the implementation of this loan, she can double her production and therefore have more ability to fulfill her dream of moving to more commercial sector and generate many jobs
La señora verónica laboro varios años como operaria en una tapicería, hace 6 meses decidió independizarse y monto su propia tapicería, allí elabora muebles de muy buena calidad y muy estéticos produce un empleo puesto que ella no da abasto para tanta producción, debido a su buena demanda se ve en la necesidad de comprar maquinas necesarias para mejorar su producción y calidad como lo son un comprensor y una maquina 2 agujas, con la implementación de este crédito podrá duplicar su producción y por ende tener más utilidad para cumplir su sueño de mudarse a un sector más comercial y generar muchos empleos
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.