Daniela is a single mother of three children, ages 5, 2 and 2 months, for whom she fights everyday to make headway with her fast-food fryer business. The loan will help Daniela to purchase and stock a hot dog cart, which will be the only one in her neighborhood since no one else offers that service. Her biggest dream is to set up her fast-food business in a store with all of her specifications and to keep making progress for her three children and her mother.
Daniela es madre soltera de tres hijos, uno de 5 años, otro de 2 años y el último de 2 meses que hacen que esta mujer luche cada día por salir adelante de la mano con su fritadora en la que hace comidas rápidas. El préstamo le ayudará a Daniela a comprar surtido y un carrito de perros que sería el único en su barrio ya que nadie más presta este servicio. El gran sueño es poder montar su negocio de comidas rápidas en un local con todas las especificaciones y seguir para adelante con sus tres hijos y su mamá.
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.