Luz Marina is a fighter. For fifteen years, she has worked as a seamstress and has generated the income she needs to support her home. Some time ago her husband dies and this left her to raise her children alone, so her fianancial situation is always complicated. Thanks to her business, she can get her family ahead and the good quality of her work has allowed her to improve her sales little by little. Now she is able to generate 2 jobs for single mothers. Since she has a lbig order from a customer, but doesn't have the capacity to respond to it, Luz Marina is seeking a loan to allow her to buy materials such as fabric and thread to fill her customers' orders.
Her dream is to keep getting her business ahead and improve her household income. She also wants to generate more jobs for needy mothers.
Luz Marina es una luchadora que desde hace 15 años trabaja en la actividad de la confección y con esta ha generado los ingresos que necesita para el sostenimiento del hogar. Hace un tiempo su esposo murió y esto hizo que quedara a cargo de sus hijos, por lo que la situación económica siempre es complicada. Gracias a su negocio puede sacar su familia adelante y la buena calidad de sus trabajos le ha permitido ir poco a poco mejorando sus ventas, hasta el punto en que hoy puede generar 2 empleos para madres solteras cabezas de familia. Como tiene un gran pedido de un cliente, pero no cuenta con la capacidad para responder por el, Luz Marina busca un préstamo que le permita comprar insumos como telas e hilos para responder a los pedidos de sus clientes.
Su sueño es seguir sacando adelante este negocio y mejorar los ingresos de su hogar, además de poder generar más empleos para madres necesitadas.
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.