Martha has had a business selling food for the past 3 years. She started it because she wanted to contribute to her household economy with the income so that her husband and 2 children could have a better quality of life. Thanks to her efforts, she has been able to improve her business little by little and also improve her income. This has allowed her 2 children to attend a better school. Currently, her husband is very ill, and so he hasn’t been able to work, which has greatly reduced his income. This is why Martha, needing to generate more income, is requesting a loan to buy utensils for preparing her foods and to buy ingredients to make a greater variety of foods.
Her dream is get ahead with her business and offer a better quality of life to her husband and 2 children.
Martha tiene desde hace 3 años un servicio de venta de comidas el cual comenzó con el ánimo de apoyar económicamente en su hogar con los ingresos para que su esposo y sus 2 hijos pudieran tener una mejor calidad de vida. Gracias a su esfuerzo ha podido ir poco a poco mejorando su negocio y así ha podido mejorar sus ingresos, permitiéndoles a sus 2 hijos asistir a una educación de mejor calidad. Actualmente su esposo se encuentra muy enfermo y por esto no ha podido trabajar, lo que hace que los ingresos que generaba su esposo se disminuyan considerablemente, y es por esto que Martha con la necesidad de generar más ingresos, busca un préstamo para comprar utensilios para preparar los alimentos y comprar insumos para preparar mayor diversidad de alimentos.
Su sueño es poder sacar adelante este negocio y ofrecer una mejor calidad de vida en su hogar a su esposo y sus 2 hijos.
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.