With the goal of being an independent person and generating her own income, Edilma decided to start making clothes 10 years ago, a profession she learned thanks to her years of working in businesses that offered similar services. She was tired of always receiving the same salary and ventured out in search of better opportunities for her and her two children. Therefore, she wants to request a loan for the purchase of merchandise, specifically fabric, to make shirts, starting her own brand. She hopes that this loan will be the beginning of a high volume of work that will allow her to get her own storefront and expand, offering employment to many people.
Con el ánimo de ser una persona independiente y generar sus propios ingresos Edilma decidió iniciar el oficio de confección hace aproximadamente 10 años, profesión que aprendió gracias a sus años de trabajo en empresas que prestan similares servicios, pero cansada de recibir siempre el mismo sueldo se aventuró en busca de mejores oportunidades para ella y sus dos hijos por ello quiere solicitar un préstamo para la compra de mercancía específicamente telas para realizar confecciones en camisas iniciando su propia marca y aspirando que este crédito sea el comienzo de un buen volumen de trabajo que le permita conseguir un local propio y ampliarse ofertando empleo a varias personas
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.