María spent 30 years as an itinerant merchant selling fruit in the street but 12 years ago thanks to the great effort she put into her work she managed to open a general store where she offers her customers basic staple items. Thanks to this business she’s been able to move her family of four children forward since she’s a single mother head of household; she’s very grateful to have been able to provide her children with a good home and education. She’s put quite an effort into making her business grow in order to offer her children a better quality of life which is why she’s now looking for a loan to buy basic staple items to stock her store with products she’s run out of. Her greatest dream is to continue moving forward and that her children make progress so that they will have economic possibilities so when they form their own families they will be able to provide them with a good home.
Maria era durante 30 años una vendedora ambulante que vendía frutas en la calle y desde hace 12 años gracias al gran esfuerzo que ha hecho con su trabajo logró montar en un local una tienda general donde ofrece a sus clientes productos de la canasta familiar. Gracias a este negocio ha logrado sacar adelante a sus 4 hijos ya que es una madre soltera cabeza de hogar, y a estado muy agradecida de poderles brindar a sus hijos educación y un buen hogar. Con su negocio ha puesto un gran empeño en hacerlo crecer para poder ofrecerles a sus hijos una mejor calidad de vida, y por esto ahora busca un préstamo para comprar productos de la canasta familiar y surtir su tienda con productos que se han ido agotando.
Su mayor sueño es seguir saliendo adelante y que sus hijos progresen, para que tengan las posibilidades económicas de que cuando formen sus familias puedan brindarles un buen hogar.
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.