At the age of 55, Ana is a fighter who has never given up in face of difficulties. On the contrary, she has invested herself in her work to move her family forward. She divides her time between 2 businesses. During the week she takes care of children in her community and on the weekends she sells foods in Ciclovia de Bello, a municipality in the department of Antioquia.
With the dream of continual progress, Ana wants to purchase ingredients she needs to prepare foods. But she doesn't have the capital funds for these purchases. For this reason she requests a loan. It will permit her to supply her business, to improve her sales, and consequently, to improve the quality of her life.
A sus 55 años de edad Ana es una mujer luchadora que nunca se ha dejado vencer por las dificultades, por el contrario se ha dedicado a trabajar para sacar a su familia adelante, hoy en día divide su tiempo en 2 labores, en la semana cuida niños de su comunidad y los fines de semana vende comida en la ciclovía de Bello, un municipio del departamento de Antioquia.
Con la ilusión de seguir progresando, Ana quiere comprar los insumos necesarios para preparar los alimentos pero no cuenta con el capital para dichas compras por lo que solicita un préstamo que le permita surtir el negocio, mejorar las ventas y proporcionalmente mejorar su calidad de vida.
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.