Señora Dora is 48 years old and is the mother of 3 children aged 27, 18 and 4 years. Señora Dora has been a hairdresser in her neighbourhood for more than 8 years. Señora Dora is a widow which means that she must work hard every day in her beauty salon to raise her children. Señora Dora needs to make imporvements to her salon's bathroom such as mending the floor, the walls and the pipes. With these improvements, Señora Dora will be able to offer her clients a better service. Señora Dora's dream is to grow her business and be well positioned in the sector.
La señora Dora a sus 48 años de edad es madre de tres hijos de 27, 18, y 4 años de edad. La señora Dora lleva más de ocho años prestando en su propio local el servicio de peluquería. La señora Dora es viuda, lo que hace que trabaje arduamente día a día en su salón de belleza para sacar adelante a sus hijos. La señora Dora requiere de hacer adecuaciones locativas al baño de su negocio tal como el arreglo del piso, las paredes y las tuberías. Con lo anterior, la señora Dora podrá prestar un mejor servicio a sus clientes. El sueño de la señora Dora es agrandar su negocio y que esté posicionado en el sector.
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.