Reina, 45, is a woman motivated by her wish to see her four minor children have better quality of life. Shed states that she never had the opportunity to go to school because of her family’s lack of economic resources so she wants her children to have this opportunity.
Reina has worked making clothes for more than ten years, an occupation she learned from her mother. She currently works independently at home doing sewing and clothes making for third persons. She wants to improve productivity and income which is why she’s asking for a loan to buy supplies needed to produce what’s required. She wants to be well-known in her sector so that volume of work will increase and she can become a source of employment for others in her town.
Reina de 45 años, es una mujer motivada por el deseo de ver sus cuatro hijos menores con una mejor calidad de vida. Manifiesta que no tuvo la oportunidad de educarse en una escuela debido a la carencia económica de su familia por lo cual desea que sus hijos tengan esta oportunidad. Reina se ha dedicado a la confección por más de 10 años, oficio que aprendió gracias a su madre. En la actualidad labora como independiente desde su casa realizando costuras y confección a terceros. Desea mejorar su productividad e ingresos por lo cual se encuentra solicitando un crédito que destinará para la compra de insumos con el propósito de sacar la producción solicitada.
Desea ser reconocida en su sector con el fin de aumentar el volumen de su trabajo y convertirse en una fuente de ingresos para otras personas de su municipio
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.