Maria has had a general store since three years ago when she bought it from a friend who was selling it for a very cheap price. In this way she found a source of income, which she was looking for in order to contribute financially to her home where she lives with her husband and six children. Even though the business started with very low capital, little by little she has been able to grow the business and thus increase the variety products that she sells to her customers. Thanks to sales being good in the last few days, Maria is looking for a loan to buy basic household necessities to supply the products that have been running low in the store.
Her dream is to be able to make this business successful and to improve her family’s quality of life. In addition, she dreams of having her own house so that her husband and her six children have a more stable home.
Maria tiene una tienda general desde hace 3 años cuando lo compró a una amiga que lo estaba vendiendo muy barato, y de esta manera encontró una fuente de ingresos que estaba buscando para aportar económicamente en su hogar donde convive con su esposo y sus 6 hijos. Pese a que el negocio lo inició con un muy bajo capital, poco a poco ha podido ir sacando el negocio adelante y así aumentando la variedad de productos que vende a sus clientes; y gracias a que en los últimos días ha venido teniendo buenas ventas, Maria busca un préstamo para comprar productos de la canasta familiar para surtir los productos que se han ido agotando en la tienda.
Su sueño es poder sacar este negocio adelante y mejorar la calidad de vida que tiene su familia. Además, sueña con tener su casa propia para que su esposo y sus 6 hijos tengan un hogar más estable.
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.