Since her brother's death, Maria Limbany has become her mother's source of financial support. Maria Limbany has five children and she has had to work hard to provide for her whole family because, approximately 9 months ago, her brother died. He had an 'arepa' factory and provided for the family. Together with her mother, Maria Limbany would like to re-open the arepa factory that her brother had at home. However, in order to do this, she needs to buy some necessary equipment for making arepas. Maria Limbany and her mother dream of having a large business with a lot of customers. They would like to be well known for the quality of their products.
La señora Maria Limbany desde la muerte de su hermano se ha convertido en el apoyo económico para su madre. Además de sus 5 hijos, Maria Limbany ha tenido que luchar fuertemente para sacar toda su familia adelante, pues hace aproximadamente 9 meses murió su hermano, quién con su fábrica de arepas era el sostenimiento para su familia. Es por esto que junto con su madre, Maria Limbany quiere reabrir la fábrica de arepas que tenía su hermano que funcionaba desde su casa, pero para ello, requiere de la compra de algunos equipos necesarios para la producción de las arepas. Maria Limbany y su madre, sueñan con tener un gran negocio con bastante clientela, y que sean reconocidos por la calidad de sus productos.
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.