Señora Maria Leticia, at her 55 years of age, is a wonderful daughter who takes care of her father, who is over 70, a potato crop, their cattle and two nephews whose mother died of cancer 7 years ago. With a spirit that inspires her to get ahead and move past the difficulties the winter caused to her crops and her family's finances, Señora Maria Leticia plans to purchase fertilizer and irrigation supplies. With the purchase, she will be able to improve her crop and thereby meet the household expenses and improve her father's and nephews' quality of life.
La señora Maria Leticia a sus 55 años es una gran hija quien se encuentra a cargo de su padre quien tiene más de 70 años, de un cultivo de papa, cría de vacas y dos sobrinos a quienes su madre murió hace 7 años de cáncer. Con el ánimo de salir adelante y sobrepasar las dificultades que el invierno a causado en su cultivo y en la economía de la familia, la señora Maria Leticia necesita de la compra de abonos y riegos con los cuales puede mejorar su cultivo y así poder sobrellevar los gastos de su hogar y mejorar la calidad de vida de su padre y dos sobrinos.
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.