María is a person who has had to go through many adversities in her life. However, she’s always had the strength to get ahead and continue making progress with her children.
María is a single mother head of household; she has two children who are 16 and 21 years of age. Her husband died some time ago leaving her as the main person responsible for generating income needed in her home to cover expenses that arise there.
She and her husband owned a bar they worked in to generate family income but since her husband’s death she hadn’t worked and had been leasing out the bar. Now that María has taken up the business again she needs a loan to buy a stock of beverages and liquor to meet customer demand so that she can continue generating better income for her home leading to improved quality of life for her children and better opportunities for economic progress.
Maria es una persona que ha tenido que atravesar por muchas adversidades en su vida, sin embargo siempre ha tenido la fortaleza para salir adelante y continuar progresando junto a sus hijos. Maria es una madre soltera cabeza de hogar de sus 2 hijos de 16 y 21 años de edad, pues su esposo murió hace un tiempo dejándola como la principal responsable de generar los ingresos que se requieren en su hogar para sostener los gastos que allí se generan. Junto con su esposo tenían un bar en el cual trabajaban para generar los ingresos de su familia, pero desde la muerte de su esposo el negocio no ha trabajado y el local estaba alquilado durante un tiempo; pero ahora que Maria ha retomado con la actividad de atender el bar requiere de un préstamo que le permita comprar surtido de bebidas y alcohol para satisfacer las necesidades de sus clientes.
Así podrá seguir generando mejores ingresos para su hogar permitiendo tener una mejor calidad de vida para sus hijos y mejores oportunidades económicas para progresar.
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.