Maria is a very determined woman who works hard in life to get ahead and this is why four months ago she succeeded in setting up her own business. Before, she had been working for more than 25 years as an employee in personal product sales. Now that she has her own business of selling personal products she can offer her three children a better quality of life because her business is located in the same place as her house, which allows her to be there to care for her three children at all times.
Despite the financial difficulty that her family is suffering from, the business has been able to get them ahead little by little and thanks to the good sales she is now having, Maria asks for a loan to buy personal products and to stock up her business.
Her dream is to continue moving forward in the business so that it will allow her to get an income with which she can overcome the large financial difficulties of her home, and thus be able to provide a better quality of life for her children as she has sought to do.
Maria es una gran luchadora que ha trabajado fuertemente en la vida para salir adelante, y es por esto que hace 4 meses logró montar su propio negocio después de haber trabajado por más de 25 años como empleada en la venta de productos de uso personal. Ahora que tiene su propio negocio de venta de productos de uso personal, puede ofrecerles a sus 3 hijos una mejor calidad de vida, pues el negocio está ubicado en un local que tiene su casa y esto le permite estar al cuidado de sus 3 hijos todo el tiempo. Pese a las grandes dificultades económicas que padece su familia, el negocio ha podido ir saliendo adelante poco a poco, y gracias a que ahora tiene buenas ventas, Maria busca un préstamo para comprar productos de uso personal y surtir su negocio.
Su sueño es seguir sacando adelante este negocio y que le permita obtener ingresos con los cuales supere las grandes dificultades económicas del hogar, y así pueda darle una mejor calidad de vida a sus hijos que tanto la ha buscado.
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.