Fabiola is someone who has always been very hard-working and is always seeking to offer her family a better quality of life. She is a single mother and the head of her family of 5 sons. Her husband died some time ago and she was left to take care of her sons as a widow.
Roughly 21 years ago, she set up a general store with her husband with the purpose of generating the income necessary for her household. Thanks to the knowledge gained from her husband during that time about how to manage the shop, she was able to keep the business going once he passed. Fabiola provides very good service and thanks to this she has been able to gain very good customers that guarantee good sales.
With the goal of making some alterations to her shop, she is requesting a loan that would enable her to make some of those alterations to her business in order to make it more pleasant for her customers. Fabiola considers that in this way she will be able to continue to move forward with her shop as well as keep it in good repair. Moreover, she hopes that it will help her sales to grow and her sons can enjoy a better quality of life.
Fabiola es una persona que se ha caracterizado por ser muy trabajadora y siempre estar en busca de ofrecerle a su familia una mejor calidad de vida. Fabiola es una madre soltera cabeza de familia de 5 hijos, pues su esposo murió hace un tiempo y ella quedó viuda a cargo de sus hijos. Desde hace aproximadamente 21 años, montó junto con su esposo una tienda general con el ánimo de generar los ingresos necesarios para su hogar, y gracias al conocimiento que tuvo durante este tiempo de parte de su esposo sobre cómo atender su tienda, pudo sacarla adelante luego de la muerte de su esposo. Fabiola presta un muy buen servicio y gracias a esto ha podido captar muy buenos clientes que le garantizan muy buenas ventas. Con el ánimo de realizar algunas mejoras locativas a su negocio, Fabiola busca un préstamo que le permita acceder a realizar algunas reformas locativas a su negocio para hacerlo más agradable para sus clientes.
Fabiola estima que de esta manera podrá seguir sacando su negocio adelante y conservando su negocio en un buen estado. Además, espera que con esto sus ventas aumenten y sus hijos puedan gozar de una mejor calidad de vida.
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.