Omaira is a person who is always available to help people in her community who need it. Currently, she has two women contracted as operators to work in her small sewing workshop for third parties. There, they make different clothes with the object of obtaining income to get their respective families ahead.
She has the workshop located in a room of her house, but lately she has felt very cramped there. For this reason, she is applying for a loan; she wants to carry out some adaptations to move her workshop to the second floor of the house where she can work more comfortably. Additionally, she wishes to buy an overlock sewing machine to increase her production and improve her sales.
This work is the only source of income that she has and these two people depend upon it, thus she wants to move forward with it and not give up on it.
Omaira es una persona que siempre está dispuesta a ayudar a las personas de su comunidad en lo que necesiten. En este momento tiene a dos mujeres contratadas como operarias para trabajar en su pequeño taller de confección a terceros. Allí fabrican diferentes prendas con el objetivo de obtener ingresos para sacar a sus respectivas familias adelante.
Ella tiene el taller ubicado en una habitación de su casa, pero últimamente se ha sentido muy estrecha allí, por esta razón solicita un préstamo pues desea realizar algunas adecuaciones para trasladar su taller al segundo piso de la casa donde puede trabajar más cómodamente, adicionalmente desea comprar una maquina fileteadora para aumentar su producción y mejorar sus ventas.
Este trabajo es el único medio de ingresos que tiene y de él dependen estas dos personas, por eso quiere sacarlo adelante y no desistir de él.
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.