Maria has operated a daycare for about 19 years, where she takes care of approximately 15 children between the ages of 2 and 5, all of whom come from families with very little financial resources. She works hard to care for the kids and improve their quality of life, as well as the quality of life for their parents, since her care for children allows their parents to work their daytime jobs without worrying about their children. She is well known in the community for her kindness and hard work.
In hopes of offering better services to the children and their families, Maria is requesting this loan, which she plans to put towards repairs and improvements to her home, creating nicer spaces for the children.
She hopes that these repairs will improve her overall service quality and allow her to care for a larger group of children, improving their quality of life.
Maria tiene un hogar comunitario desde hace aproximadamente 19 años donde cuida aproximadamente 15 niños entre edades de 2 y 5 años, quienes provienen de familias con escasos recursos económicos. Con su labor, puede mejorarles la calidad de vida tanto a los niños como a los padres que deben trabajar durante gran parte del día, lo que ha hecho que tenga un gran reconocimiento y cariño por parte de las personas del sector.
Con el ánimo de ofrecer un mejor servicio, Maria busca que un préstamo le permita realizar mejoras locativas a su hogar de modo que pueda tener mejores espacios para el cuidado de los niños.
De esta manera podrá tener un mejor servicio y así podrá seguir trabajando de la mejor manera, además de que podrá incluir a un número mayor de niños para poder mejorarles la calidad de vida a muchas más personas.
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.