María Leonor is one of those women who is worthy of admiration. She is tenacious, strong, and a great trooper. She suffered the abandonment of her husband with whom she has five children. She had to lift the children up and get them ahead by herself. She is a Jack-of-all-trades.
She is a housewife, she does jobs in other households, and she sells merchandise door to door. These jobs are her only source of income. The father of her children does not help with their support.
María has priorities in her life, and the first one is her children’s education. Therefore, it does not bother her to work so hard each day. She is now requesting a loan, which she plans to use to buy seasonal merchandise. She hopes to increase her income and to be able to buy her children school uniforms for the next school year.
María Leonor es una de esas mujeres digna de admiración, luchadora, pujante y una gran guerrera. Sufrió el abandono de su esposo con el cual tiene 5 hijos, hijos que tuvo que levantar y sacar adelante sola. Es una todera, pues es ama de casa, hace oficios en otros hogares y se dedica a la venta de mercancía puerta a puerta. Estas labores son su única fuente de ingresos pues el padre se sus hijos no le colabora con la manutención. María tiene prioridades en su vida y la principal es la educación de sus hijos, por eso no le importa trabajar tan fuerte cada día. En estos momentos está solicitando un crédito con el que espera comprar mercancía para esta temporada con la esperanza de aumentar sus ingresos y poderles comprar a sus hijos los uniformes para el colegio el próximo año.
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.