The lack of opportunities that affects many people in our society has also affected Claudia María, who saw the need emigrate from her place of origin due to lack of jobs there. She came looking for better job opportunities and provide her three children with dignified lives. She opened a food stall but needs money to invest in the ingredients so she is asking for a loan in hopes of beginning a better life and forget about the obstacles she has overcome.
La falta de oportunidades es un factor social que afecta a millares de personas en nuestra sociedad, tal es el caso de Claudia María que se vio en la obligación de emigrar de su lugar de origen debido a la escasez de empleo en su tierra y buscando una oportunidad de empleo para brindarle a sus tres hijos una vida digna. Claudia hoy ve más allá y se ha propuesto crear un puesto de comida, pero para ello necesita dinero que debe invertir en la compra de alimentos para poder realizar las preparaciones. Debido a esto recurre a un préstamo con la esperanza de que por fin su vida comience a mejorar y olvidar las penurias por las que ha atravesado.
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.