Martha is 32 years old and has converted her small business thanks to her hard work. She has a wooden kiosk located in the municipal park and this has allowed her to support her family; her children and husband. Martha wants to expand the variety of products that she offers in her store and find a better location, but she doesn’t have the money to make these improvements so she has requested a loan. Her greatest desire is to be able to increase her sales because she will be able to provide a better quality of life for her children.
Martha de 32 años de edad se ha convertido en una microempresaria gracias al esfuerzo de su trabajo, cuenta con un quiosco de madera ubicado en el parque de su municipio. Local que le ha dado el sustento a ella y a su familia conformada por sus dos hijos y su esposo. Martha desea ampliar la variedad de productos que ofrece en su tienda y mejorar sus locaciones. Actualmente no cuenta con el dinero para financiar estas mejoras y ha decidido buscar un crédito. Su mayor deseo es poder incrementar sus ventas porque con ello podrá garantizarles a sus 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.