Ms. Blanca has a chicken restaurant, which she started when she became a widow because she needed to generate her own income to sustain herself. With the goal of creating a job for a family member and improving her sales, Blanca needs to purchase a pot for frying. This will make it possible for her to increase her production and thereby improve her own quality of life as well as that of her new employee.
La señora Blanca tiene un restaurante de asadero de pollos, esta actividad inició luego de haber quedado viuda, por lo que requería de generar sus propios ingresos para su sostenimiento. Con el ánimo de generarle empleo a un familiar y mejorar sus ventas, la señora Blanca necesita de la compra de una olla fritadora con la cual pueda tener una mayor producción y así mejorar su calidad de vida y la del nuevo trabajador.
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.