Rosa Emilia is a person who has had to pass through great adversities in her life; however, she has always had the strength to move forward and continue providing a good quality of life for her children. She is a single mother and the head of her home with 10 children. Her husband died awhile ago, and Rosa Emilia still wants to guarentee a good quality of life for her children, even though some are already grown and have their own jobs. She still has 3 children that she wants to grant access to a good quality education and provide for their daily needs. In order to generate income, Rosa Emilia has a business preparing and selling meals and since her customers have come to her with requests, she hopes to start making arepas to sell in her municipality. Since she doesn't have much capital for this, Rosa Emilia requests a loan to purchase an electric mill, necessary utensils, and supplies to begin making arepas.
Her dream is that her children succeed and with her support can have access to a good quality education. Moreover, she aspires to have a good business that is well-organized and allows her to prosper.
Rosa Emilia es una persona que ha tenido que atravesar por grandes adversidades en la vida, sin embargo siempre ha tenido la fortaleza para salir adelante y continuar brindándoles una buena calidad de vida a sus hijos. Madre soltera cabeza de hogar de sus 10 hijos, pues su esposo murió hace un tiempo, Rosa Emilia aún debe garantizar una buena calidad de vida a sus hijos, pues a pesar de que algunos ya se encuentran grandes y tienen sus propios trabajos, todavía tiene 3 hijos que les debe garantizar el acceso a una educación de buena calidad y el sustento diario. Para poder generar sus ingresos Rosa Emilia tiene una venta de comidas, y debido a que sus clientes se lo han venido solicitando, espera comenzar con una fábrica de arepas para venderlas en su municipio. Ya que no cuenta con un gran capital para esto, Rosa Emilia busca un préstamo para comprar un molino eléctrico, los utensilios necesarios y los insumos para comenzar a fabricar arepas.
Su sueño es que sus hijos salgan adelante y con su apoyo puedan tener acceso a una educación de buena calidad. Además, aspira a tener un buen negocio que sea bien organizado y les permita prosperar.
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.