Maria is a very hardworking person who has had a general store for nine years. This is how she generates the income to sustain her household. Her great challenge is being the head of the household and a single mom to three children, given that her husband died awhile ago, leaving her a widow. Because of this, her business has been vital to moving them forward and giving them everything that they need. Since she doesn't have much capital, Maria is asking for a loan to stock her business and buy basic goods to stock her business with the products that she has been running out of.
Her dream is to be able to have this business and run it as long her health permits it, and that way she will stay active. She also wants to support her children so that they have a good quality of life and she can offer then a good quality education.
Maria es una persona muy trabajadora que desde hace unos 9 años tiene una tienda general con la que genera los ingresos para el sostenimiento de su hogar. La gran dificultad que tiene es que es madre soltera cabeza de hogar de sus 3 hijos, ya que su esposo murió hace un tiempo quedando viuda; y para esto su negocio ha sido fundamental para poderlos sacar adelante y brindarles todo lo que necesitan. Como no cuenta con mucho capital, para poder surtir su negocio Maria recurre a un préstamo para comprar productos de la canasta familiar y así surtir su negocio con productos que se han ido agotando.
Su sueño es poder tener este negocio y atenderlo hasta que su salud se lo permita y así mantenerse activa. Además poder sostener sus hijos para que tengan una buena calidad de vida y ofrecerles un estudio de buena calidad.
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.