Maria is a a single mother, head of a household of 3 children. She looks to offer them access to a high quality education. For this she works hard everyday in the general store that she enthusiastically started to be able to generate the income that is required in her home and be able to get ahead. Since she set up her store the economic conditions in her home have improved considerably and this has allowed her to offer her children better opportunities to get ahead and a better quality of life. Because she doesn't have much capital, Maria turns to a loan to be able to buy a refrigerator since the one that is in her store is damaged.
Her dream is to get ahead in this business and make it grow so her economic situation improves considerably and her children can have the opportunity to attend the university in the future.
Maria es madre soltera cabeza de hogar de sus 3 hijos a quienes busca brindarles el acceso a una educación de buena calidad; para esto trabaja fuertemente todos los días en la tienda general que inició con el ánimo de poder generar los ingresos que se requieren en su hogar y lograr salir adelante. Desde que montó su tienda las condiciones económicas en su hogar han mejorado considerablemente y esto le ha permitido brindarles a sus 3 hijos mejores oportunidades para salir adelante y una mejor calidad de vida. Debido a que no cuenta con mucho capital, Maria acude a un préstamo para comprar una nevera ya que la que esta en su tienda ya se dañó.
Su sueño es salir adelante con este negocio y hacerlo crecer para que su situación económica mejore considerablemente y sus hijos puedan tener la oportunidad en un futuro de asistir a la universidad.
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.