Gloria started her stationery store 11 years ago when her husband left her and the responsibilities of providing for the household fell on her shoulders. At first the business had very few supplies since Gloria didn't have much capital, but with her hard work and dedication she kept moving forward and increasing her income. She currently is under great financial stress, which has caused her family to live with a very poor quality of life, and she hopes to improve the situation with a loan so she can stock her store and be able to offer a wider variety of products to her customers and increase her sales. Her dream is to increase her income and provide her household with a better quality of life so they can overcome this tough period they are experiencing.
Gloria tiene una papelería desde hace unos 11 años cuando fue abandonada por su esposo y se vio en la obligación de responder por las obligaciones de su hogar. En un principio el negocio contaba con muy poca mercancía ya que Gloria no tenía mucho capital, pero con su esfuerzo y dedicación diaria ha venido sacándolo adelante y mejorando sus ingresos. En la actualidad tiene una gran dificultad económica que le ha causado que su familia tenga que padecer por una muy mala calidad de vida, por esto es que busca mejorar esta situación con un préstamo para comprar surtido de papelería y poder ofrecer mayor variedad a sus clientes para mejorar sus ventas.
Su sueño es poder aumentar sus ingresos y brindar en su hogar una mejor calidad de vida para superar esta dura etapa por la que está atravesando.
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.