Señora Flor Alba is 46 years old and has a 13 year old son. She works as a maid in family homes doing cleaning. Given that this work does not provide her with the financial resources necessary to support her family, for the last 10 years Señora Flor Alba has alternated this work with selling goods such as underwear, footwear and toys to relatives, friends and neighbors.
In the spirit of recovering customers she has lost due to the poor variety of her goods, Señora Flor Alba needs to buy a new assortment that will allow her to increase sales once again and thus the well-being of her family and the fulfillment of her dream to have her own store.
La señora Flor Alba a sus 46 años de edad es madre de un hijo de 13 años, trabaja como empleada doméstica en casas de familia realizando aseo y limpieza. Dado que con esta actividad no consigue los recursos económicos necesarios para el sostenimiento de su familia, la señora Flor Alba alterna este trabajo con la venta de mercancía como ropa interior, calzado y juguetería a sus familiares, amigos y vecinos desde hace 10 años. Con el ánimo de recuperar los clientes que ha perdido debido al bajo surtido que tiene, la señora Flor Alba necesita de la compra de nuevo surtido que le permite subir de nuevo sus ventas y así el bienestar de su familia y cumplir su sueño de tener su propio 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.