Gloria’s a very hardworking person who has gotten ahead despite the great adversities life has presented her. She currently works as a hired field hand but feels that she’s not paid enough to cover all her household expenses where she lives with her six-year-old son. She’s always wanted to have her own vegetable crops but has never had sufficient capital to do so and this dream is constantly being postponed. Now that she has the opportunity, Gloria is looking for financing to buy supplies like seeds, irrigation supplies, manure and insecticide to start her own vegetable crop.
Her dream is to have her own business and to move it forward to be able to offer better quality of life for her son and better economic opportunities for progress. In addition, she dreams in future with providing her won with a better quality education that will make it possible for him to progress.
Gloria es una persona muy trabajadora que ha salido adelante a pesar de las grandes adversidades que le ha presentado la vida. Actualmente Gloria trabaja como empleada en un cultivo donde siente que no le pagan lo suficiente para poder sostener los gastos de su hogar donde convive con su hijo de 6 años de edad, y siempre ha querido poder tener su propio cultivo de verduras, pero como nunca ha podido contar con el capital suficiente para ello ha tenido que ver como este sueño se aplaza constantemente. Ahora que tiene la oportunidad, Gloria busca un préstamo para comprar insumos como semillas, riegos, abonos, insecticidas y otros más para iniciar con su propio cultivo de verduras.
Su sueño es tener su propio negocio y sacarlo adelante para poder ofrecerle una mejor calidad de vida a su hijo y mejores oportunidades económicas para progresar. Además, sueña en un futuro brindarle una educación de mejor calidad a su hijo que le permita 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.