Mariela is married and has 7 children. 4 of her children are adults and have their own families and jobs, while the other 3 children are still young enough that she must guarantee their education and a good quality of life at home. Because the income that her husband earns is not sufficient to sustain the household costs, Mariela decided to establish her own business with which she would be able to take care of her children. For this reason, she began to sell staple goods for the family's basic needs from her home, and this permitted her to generate income with which she can contribute economically to support her household costs. She has had many good sales, but she still doesn't earn sufficient capital, so Mariela is seeking this loan to buy staple goods and to restock supplies of the products that she has already sold.
Her dream is to be able to offer to her children a good education, and in the future she aspires to be able to offer them access to a university education.
Mariela se encuentra casada y tiene 7 hijos de los cuales 4 ya son adultos y tienen sus propias familias y trabajos y 3 de ellos aún son jóvenes a quienes les debe garantizar la educación y una buena calidad de vida en su hogar. Debido a que los ingresos que genera su esposo no son suficientes para el sostenimiento de los gastos de su hogar, Mariela decidió montar su propio negocio con el cual pudiera estar al tanto del cuidado de sus hijos, por lo que montó una venta de productos de la canasta familiar desde su casa y esto le permite generar ingresos con los cuales contribuye económicamente para el sostenimiento de los gastos de su hogar. Debido a que ha tenido muy buenas ventas, pero ya que no cuenta con el capital suficiente, Mariela busca un préstamo para comprar productos de la canasta familiar y surtir los productos que ya se le han ido agotando.
Su sueño es poder ofrecerles a sus hijos una educación de buena calidad y aspira a que en un futuro pueda ofrecerles el acceso a una educación universitaria.
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.