Isledy is 62 years old and has two children, whom she raised and educated on her own after her husband died 26 years ago. With the goal to ensure their education and better living conditions, Isledy worked at a sewing shop for many years, but for health reasons she retired and dedicated herself to household activities. A year ago she decided to make a living selling merchandise from her home, with the goal to generate income to support herself. She is requesting the loan to expand her product portfolio and buy some products requested by her customers. Her biggest dream is to set up her own clothing store and improve her financial situation.
Isledy de 62 años de edad, es madre de dos hijos, los cuales debió educar y sacar adelante debido a que su esposo falleció desde hace 26 años. Con el propósito de garantizarles educación y mejores condiciones de vida, esta mujer laboró como operaria en un taller de confecciones por largos años, pero por motivos de salud se retiró y se dedicó a las labores del hogar. Desde hace un año decidió dedicarse a la venta de mercancía desde su vivienda, con el fin de generar ingresos para su manutención. Hoy se encuentra solicitando un crédito con el fin de ampliar su portafolio de productos y comprar algunos encargos solicitados por sus clientes. Su mayor sueño es montar su propia tienda de ropa y mejorar su condición económica.
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.