Estrella is a young worker who during most of her life has had to work in order to have her own income and to contribute economically toward the household costs of her parents' home. For many years she has been working in the school in her city, where first she worked as a security guard and later as a cleaner. After many months, she was named the director of the cafeteria in the school, and this is how she began to buy an assortment of soft drinks, sweets, and various foods with the small amount of savings that she had. Thanks to this business, she has been able to see how to better her earnings and the quality of life in her home, where she lives with her husband and 2 children. Because she doesn't have much capital to supply the cafeteria, Estrella seeks this loan to buy supplies for the business and to restock the cafeteria with products that have sold out.
Her dream has always been to eventually own a beauty salon. She hopes that with this cafeteria she can earn the money to finish her studies of cutting and fixing hair and have sufficient capital to establish her dream beauty salon.
Estrella es una joven trabajadora que durante casi toda su vida ha tenido que laborar para poder tener sus propios ingresos y contribuir económicamente en su hogar con sus padres. Desde hace muchos años está trabajando en la escuela de su municipio, donde antes desempeñaba los cargos de vigilante y luego de aseadora; hace unos meses logró que le dieran la administración de la cafetería de la escuela, por eso comenzó con unos pequeños ahorros que tenía a comprar surtido de gaseosas, dulces, y comidas variadas. Gracias a este negocio ha podido ver como mejoran sus ingresos y la calidad de vida en su hogar, donde convive con su esposo y sus 2 hijos. Como no tiene mucho capital para poder surtir la cafetería, Estrella busca un préstamo para comprar insumos para el negocio y así surtir su cafetería con productos que se le han ido agotando.
Su sueño siempre ha sido llegar a tener un salón de belleza, por eso espera que con esta cafetería pueda tener un dinero para terminar sus estudios de corte y cepillado del cabello y el capital suficiente para montar su soñado salón de belleza.
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.