Rubia, 50, is the mother of 4 children. Rubia is aware of the need to generate her own income and to be productive. She started her own business, a store, where she has been working for one month. She tends to the store every day, along with her son-in-law, who is her partner in the business. Rubia needs to buy inventory such as grains, vegetables and liquor, to meet the seasonal demand that comes at the end of the year. With this investment, Rubia will be able to improve the quality of life of her family. Rubia dreams of buying her own home and expanding her business.
La señora Rubia a sus 50 años de edad es madre de cuatro hijos. La señora Rubia consciente de la necesidad de generar sus propios ingresos y ser productiva emprende su propio negocio, una tienda con la cual lleva un mes trabajando y atiende todos los días en compañía de su yerno quien es su socio. La señora Rubia requiere de la compra de surtido tal como granos, verduras y licores, con el fin suplir la demanda de temporada de fin de año. Con lo anterior, la señora Rubia podrá mejorar la calidad de vida de su familia. El sueño de la señora Rubia es comprar una casa propia y ampliar su negocio.
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.