Rosalba helps the financial state of her home with her milk production business. She has a cow in her home. Because she doesn’t have much capital, Rosalba has not been able to take advantage of the fact that her customers have been requesting additional milk. She is not able to buy another cow. Now she has the opportunity and has decided to request a loan so that she can buy a cow and increase her milk production capacity.
Her dream is to continue with this business activity and improve her income, so that she can improve the quality of life in her home.
Rosalba ayuda a la economía del hogar con su trabajo de la producción de leche con una vaca que tiene ubicada en su residencia. Como no cuenta con mucho capital, Rosalba no ha podido aprovechar que sus clientes le pidan más leche, pues no tiene como comprar otra vaca. Pero ahora que tiene la oportunidad ha decidido buscar un préstamo para comprar una vaca y aumentar su capacidad de producción de leche.
Su sueño es poder seguir con esta actividad y mejorar sus ingresos para mejorar la calidad de vida del hogar.
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.