Marleny is a 57 year old single mother of 5 children. She has had to bring them up alone because her husband has never been responsible. Life has not been easy for her. Five months ago they were without a home because of a fire that happened in their area that completely destroyed their home. Because of this, she decided to work selling food. She started her business with selling fried foods, snacks, breakfasts and lunches. Every day she works from 4:30 in the morning until 7 at night. Her biggest dream is to open a seafood restaurant. Now she is requesting the loan to purchase ingredients and raw materials for making her products, since she does not have the capital to make this investment in her business.
Doña Marleny de 57 años de edad, es madre soltera de 5 hijos, los cuales le ha tocado educar sola debido a que su esposo nunca se hizo responsable. La vida para ella no ha sido fácil, hace 5 meses se quedó sin vivienda por un incendio ocurrido en el sector, en donde resultó damnificada tras haberse destruido su vivienda por completo. Debido a esto ella decidió dedicarse a la preparación de alimentos, iniciando su negocio con la venta de fritos, refrigerios, desayunos y almuerzos. Todos los días labora de 4:30 de la mañana hasta las 7 de la noche. Su mayor sueño es montar un restaurante de comida de mar. En el momento se encuentra solicitando un crédito que destinará para la compra de insumos y materias primas para la elaboración de sus productos, ya que no cuenta con el dinero para realizarle esta inversión a su negocio.
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.