Diana, 45 years old, is a woman who dreams of providing a better future for her three children, so two years ago she decided to sell household items in her home equipping a space in her home to set up her business. It is open every day from 7 in the morning until 10 at night. Her objective is to be able to share the household expenses with her husband.
Her biggest dream is to see her children grow up, offering them a good education improving their quality of life, “as they are the reason for our existence,” says Diana.
Currently she is asking for a loan to invest in the purchase of supplies and provisions for the holiday season.
Diana de 45 años de edad, es una mujer que sueña con brindarles un mejor futuro a sus tres hijos, por eso desde hace 2 años decidió vender productos de la canasta familiar en su casa habilitando un espacio de su vivienda para montar su negocio, el cual abre todos los días de 7 de la mañana a 10 de la noche. Su objetivo es poder colaborar con los gastos del hogar a su esposo. Su mayor sueño es ver crecer a sus hijos, ofrecerles una buena educación mejorándoles su calidad de vida “pues son ellos la razón de nuestra existencia” asegura Diana. En la actualidad solicita un crédito que para invertir en la compra de surtido y víveres para la temporada navideña.
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.