Alba has had a bakery for about ten years with which she can generate income to support her household. She is a single mother, the head of the household of her four children and this business has been fundamental to being able to help them get ahead. Despite the great economic difficulties that her family endures, Alba always has great energy and works hard to make her business progress. This is why now that she doesn’t have sufficient capital she seeks a loan to buy supplies that she requires like flour, butter, oil and other supplies for the preparation of the bread that she sells to her customers.
Her dream is to be able to considerably improve the business and to be able to offer her four children a better quality of life every time her income grows.
Alba tiene desde hace unos 10 años la panadería con la cual puede generar los ingresos para el sostenimiento del hogar, pues es madre soltera cabeza de hogar de sus 4 hijos y este negocio ha sido fundamental para poder sacarlos adelante. Pese a las grandes dificultades económicas que padece su familia, Alba siempre tiene una gran energía y trabaja fuertemente para sacar adelante el negocio, y es por esto que ahora que no cuenta con un capital suficiente, busca un préstamo para comprar insumos que requiere como harina, mantequilla, aceite y otros insumos más para la preparación de los panes que vende a sus clientes.
Su sueño es poder mejorar considerablemente el negocio y que cada vez sus ingresos aumenten para poderles ofrecer a sus 4 hijos una mejor calidad de vida.
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.