Mary is a very hard-working person who always seeks to offer a good quality of life in her home. For that reason, she has held various jobs, the great majority of which were in activities concerning food, such as restaurants and selling fried foods.
After working for many years as an employee, one day Mary made the decision to open her own business. That's how she came to start her own restaurant where she works arduously to overcome her family's difficulties concerning capital. To be able to continue expanding her restaurant, Mary is seeking a loan that would permit her to buy a refrigerator where she could preserve some foods and drinks, and thus offer better products to her customers.
Her dream is to be able to advance this business and offer employment to those who are more in need.
Mary es una persona muy trabajadora que siempre ha buscado brindar en su hogar una buena calidad de vida, por esto ha tenido varios empleos la gran mayoría de ellos en actividades de comida como restaurantes y ventas de fritos. Después de trabajar durante muchos años como empleada, un día tomó la decisión de abrir su propio negocio, y fue así como montó su propio restaurante donde trabaja arduamente para superar las dificultades de capital que hay en su familia. Para poder seguir creciendo con el restaurante, Mary busca un préstamo que le permita comprar un refrigerador donde pueda guardar algunas comidas y bebidas, y así ofrecer mejores productos a sus clientes.
Su sueño es poder sacar adelante este negocio donde pueda ofrecer empleo para los más necesitados. Además, sueña con tener el restaurante más reconocido del sector.
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.