Deisy is 56 years old and has worked making clothes for others since she was young. Through this work she has been able to provide for her family while being a single mother. In her life she has had to face many economic difficulties, due to the fact that in this line of work, as she says, "there are critical points when you have to really dig to find clients, and at times you find none." In spite of the difficulties she always has motivation to fight and get ahead. She now faces another obstacle; her sewing machine, the tool of her trade, is currently showing problems with the motor. Because of this, she needs to repair it in order to continue with her work. For this reason she is seeking the credit with which she will finance the repair of the motor. Also, she will buy supplies to take advantage of this end of the year season to raise her income.
Deisy tiene 56 años de edad y desde joven se ha dedicado al oficio de la confección a terceros. Con esta actividad ella a logró sacar adelante a su familia debido a que es madre soltera. En su vida le ha tocado afrontar muchas dificultades económicas debido a que en este oficio dice ella “hay puntos muy críticos en los que te toca rebuscarte los clientes y en ocasiones no encuentras”. Pese a las dificultades ella siempre tiene motivos para luchar y seguir adelante, hoy enfrenta otro obstáculo; la máquina, herramienta con la que trabaja, se encuentra presentando algunas fallas en el motor, por lo cual necesita repararla para continuar con su labor. Por esta razón se encuentra en búsqueda de un crédito con el que financiará la reparación del motor y comprará insumos para aprovechar la temporada de fin de año en incrementar sus ingresos.
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.