Rubiela, age 57, is a very hard-worker in spite of her health problems. She has gotten her three children ahead after her ex-husband went away from the country and left her alone with the responsibility of the household.
For 30 years Rubiela has worked in her own store. She sells fruit, vegetables, fast food, and staples. She works every day with the help of one of her daughters. Her schedule is from 6:00 a.m. until 10:00 p.m.
Rubiela needs to make some improvements to the floor and the roof of her store. The winter has damaged her facilities. She will also buy a stock of staple products, which are in the most demand by her customers.
Rubiela’s dream is to have a restaurant and to get her family ahead.
La señora Rubiela a sus 57 años de edad es una gran trabajadora a pesar de sus dificultades de salud y quien ha salido adelante con sus tres hijos, luego de que su ex esposo se fuera del país y la dejara sola con la responsabilidad de su hogar. Desde hace 30 años, la señora Rubiela trabaja en su propia tienda en la cual vende frutas, verduras, comidas rápidas y productos de la canasta familiar, trabajando todos los días con la ayuda de una de sus hijas en el horario de 6:00 a.m a 10:00 p.m. La señora Rubiela necesita realizarle a su tienda mejoras en el piso y el techo puesto que el invierno ha deteriorado sus instalaciones, además comprar surtido de productos de la canasta familiar que son los más demandados por sus clientes. El sueño de la señora Rubiela es tener un restaurante y sacar a su familia adelante.
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.