Dora Milena is 34 years old and a mother of a 5 year old son who is her reason for looking for a better future. When she was young, she learned how to sew because this was her first job when she entered the workforce. Today, she has been working as a seamstress for 10 years and some time ago she decided to open her own business. With sacrifice and effort she was able to open her own workshop where she makes blouses which she sells in her neighborhood and in the center city. She is looking for a loan that she will invest in purchasing fabric and thread so that she can increase production for Mother's Day.
She hopes to improve her economic situation and to offer her son a good education.
Dora Milena de 34 años de edad, es madre de un hijo de 5 años, el cual es su principal motivación para ir en búsqueda de un mejor futuro. Desde joven aprendió el oficio de la confección debido a que comenzó a laborar en este sector. Hoy lleva más de 10 años ejerciendo la actividad y desde algún tiempo decidió independizarse. Con sacrificio y esfuerzo montó su propio taller dedicado a la confección de blusas, las cuales comercializa en su municipio y en el centro de la ciudad. Se encuentra solicitando un crédito que invertirá en la compra de telas e hilos con el fin de sacar la producción para el día de las madres.
Espera mejorar su condición económica y ofrecerle a su hijo una buena educación.
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.