Nora, 50, is a woman motivated by the wish to see her four children receiving a professional degree. She says that she wanted to study herself, but due to the lack of resources in her family, she could not fulfill her dream. She now wants her children to have that privilege.
Since she was young, she has worked with tailoring, an activity she learned while growing up and thanks to the different jobs she has had. She now works from home and tailors for third-party customers.
With the intention to improve her productivity and increase her income, she is now requesting a loan to buy supplies, such as fabrics and threads. She hopes that this investment will help her make her dream come true: to offer her children access to higher education.
Nora de 50 años, es una mujer motivada por el deseo de ver sus cuatro hijos realizando sus estudios de educación superior. Cuenta uno de sus sueños fue ingresar a la universidad pero debido a las carencias económicas de su familia su sueño no se convirtió en realidad, por lo cual desea que sus hijos gocen de este privilegio.
Desde joven se ha dedicado a la confección, oficio que aprendió en el trayecto de su juventud y los empleos que obtuvo. En la actualidad labora desde su casa realizando confección a terceros.
Con el fin de mejorar su productividad e incrementar sus ingresos, se encuentra solicitando un crédito que destinará en la compra de insumos como telas e hilos. Espera que con esta inversión su gran sueño de poderles ofrecer educación superior a sus hijos comience a ser parte de su realidad.
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.