Maria Teresa, at 42 years of age, dedicates herself to selling different edible products such as fruits, sodas and snacks from a small site built out of wood. Her stall is situated on the side of the primary road of the Puerto Berrio municipality, in the north of Antioquia, where she can offer her products to travelers. Maria Teresa has been carrying out this work for 23 years, working alone in her journey from 8:00 am to 10:00 pm.
She is very grateful for her business, which has provided the necessary income to help her four children get ahead. Maria Teresa would like to supply her stall to have products to offer to travelers, and to have the hope to improve sales, thereby improving the lives of her children and parents.
La señora Maria Teresa se dedica a sus 42 años de edad a la venta de diferentes productos comestibles tales como frutas, gaseosas y snacks en un pequeño lugar construido con madera y localizado a la orilla de la carretera principal del municipio de Puerto Berrio localizado al norte de Antioquia en el cual puede ofrecer sus productos a los viajeros. Esta labor la realiza la señora Maria Teresa desde hace 23 años, trabajando sola en una jornada desde las 8:00 a.m hasta las 10:00 p.m. Muy agradecida con su negocio el cual le ha brindado los ingresos necesarios para sacar adelante a sus cuatro hijos, la señora Maria Teresa desea surtirlo y así tener productos para ofrecerles a los viajeros y tener la esperanza de mejorar sus ventas y así la calidad de vida de sus hijos y padres.
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.