Lilia, 51, is the mother of 10 children, whom she has supported without the help of their father. She has provided them with food, an education, and a home, the latter of which she managed with a great deal of effort, working hard selling food in the street, in stores, and in cafes. Two years ago she started her own business with a produce shop. Now Lilia has a vegetable and grain store where she works to support her 3 minor children. At this time, Lillia wants to buy more products, such as dairy products, and shelving that can hold and better display her vegetables. Lilia's dream is to leave the store to her 18 year-old daughter and start her own cafe.
La señora Lilia a sus 51 años D. edad es madre D. diez hijos, a los cuales sin la ayuda D. su padre a sacado adelante y les ha brindado educación, alimentación y un hogar, lo anterior ha sido con mucho esfuerzo y gracias a que ha trabajado fuertemente en ventas D. comida en la calle, en tiendas y cafeterías; hace dos años inicio su propio negocio con una legumbreria. Hoy día, la señora Lilia tiene una tienda D. legumbres y granos con la cual pueD. apoyar a sus tres hijos menores D. edad. Actualmente, la señora Lilia desea comprar surtido como productos lácteos y una estantería para ubicar y presentar mejor la verdura. El sueño D. la señora Lilia es dejarle la tienda a su hija D. 18 años y ella poder montar su propia cafetería.
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.