Margoth is 44 years old and works as a dressmaker, a trade that she learned from her mother. She started her own business after resigning from her job so that she could spend more time with her children aged 14 and 9.
In order to complete her pending orders more quickly, Margoth needs a serging machine. This purchase will allow her to increase her income and secure new customers in the future.
Her dream is to be able to save enough money to buy her own house and improve the quality of life of her family.
Margoth de 44 años de edad, se dedica a la confección a terceros, labor que aprendió de su madre quien le enseño el oficio. Su negocio surgió debido a que renunció a su trabajo con el propósito de poder dedicarles tiempo a sus dos hijos de 14 y 9 años de edad.
Con el fin de agilizar la entrega de los pedidos pendientes, Margoth requiere de la compra de una maquina fileteadora, que le permita aumentar sus ingresos y a futuro conseguir nuevos clientes.
Sueña con poder reunir el dinero suficiente para adquirir vivienda propia y mejorar las condiciones de vida de su familia.
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.