Adriana lives in the city of San Felix. She started her business, selling merchandise, in a rented space. With this business she is able to provide daily sustenance for herself and her small six-year-old son.
Her dream is to own her own property and have a small grocery store there with a variety of merchandise to offer to her customers. She would also like to provide her son with economic and emotional stability.
Adriana vive en el municipio de San Felix donde inició su negocio de venta de mercancía en un local arrendado, con este negocio ella se consigue su sustento diario para ella y su pequeño hijo de 6 años.
Ella se sueña con tener su local propio y con un almacén con variedad de mercancía para ofrecerle a sus clientes, además así le puede brindar a su hijo una estabilidad económica y emocional.
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.