At 68 years old, Berenice B. P. - a native of the city of Medellín - is an entrepreneur who, through a lot of effort, has managed to get ahead in life and acquire the basics she needs to survive. With untiring energy (she is single, doesn't have any family and needs to make income) Berenice decided to set up in her home a guesthouse for students from other towns and cities who need a place to live and somebody to take care of their clothes and make their meals.
Although her working day is exhausting, Berenice feels happy to be working and looking after herself as well as providing a service to the students who don't have a place to live.
Berenice hopes to continue providing this service. She needs a loan to buy three beds, each with a mattress and bedclothes, so that she can expand her furnishings and thereby be able to provide more tenants with accommodations. This will allow her to increase her income.
A sus 68 años de edad, Berenice B. P. oriunda de la ciudad de Medellín es una emprendedora que con gran esfuerzo ha logrado salir adelante y conseguir lo básico para sobrevivir. Con una energía inagotable pues, soltera y sin familia y con la necesidad de generar ingresos, Berenice decidió montar en su casa una pensión estudiantes para estudiantes que vienen de otras ciudades o municipios y que necesitan un lugar donde vivir y una persona que les arregle la ropa y les elabore los alimentos.
Aunque su jornada laboral es extenuante, se siente feliz de trabajar y valerse por si misma, así como prestarle un servicio a estos estudiantes que no tienen un lugar a donde llegar.
Berenice espera seguir prestando este servicio y para ello necesita de un préstamo para comprar 3 camas con sus respectivos colchones, cobijas y tendidos de cama, con el fin de ampliar su inmobiliario y poder hospedar nuevos inquilinos lo que le permitirá incrementar sus ingresos.
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.