Ana, 65, is the mother of five children. She and her husband have worked in their own store for eight years. Ana wants to have an addition to her store, a shop in which she can sell varieties such as beauty products and stationery.
Ana wants to buy stock items for her shop that she recently started, such as earrings, bracelets, women's accessories, and clothing for the whole family, for the end-of-the-year season. With this Ana will be able to increase her earnings and so improve her quality of life and, in the short term, make improvements on her shop.
Ana's dream is to see her store and her shop grow.
La señora Ana a sus 65 años de edad es madre de 5 hijos, se dedica junto con su esposo a trabajar en su propia tienda desde hace 8 años. La señora Ana quiere tener adicional a su tienda, un almacen en el cual pueda vender variedades como artículos de belleza y papelería. La señora Ana desea comprar para la temporada de fin de año surtido para su almacen que recién inicia tal como aretas, pulseras, accesorios para mujer y ropa para toda la familia. Con lo anterior, la señora Ana podrá aumentar sus ingresos y así poder mejorar su calidad de vida y a corto plazo realizarle mejoras locativas a su almacén. El sueño de la señora Ana es ver crecer su tienda y su almacén.
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.