Rocio is 41 years old and is the mother of two children, ages 16 and 19. After the death of her mother, she fell into a state of chronic depression, for which she had to have psychiatric intervention. This person suggested to her that besides doing the housework, she should fill the remaining time with another activity. For this reason, and with the help of her sister, they set up a store that she runs, working from 8 in the morning until 8 in the evening. With this business she contributes to the household expenses. Her biggest dream is to be able to set up a stand for fast food at the side of her store. According to her, it is a good business because at this time there aren't any [fast food businesses] in her area. As she doesn't have the resources to make this investment, she is applying for a loan that will allow her to realize her project.
Rocío tiene 41 años de edad y es madre de dos hijos de 16 y 19 años. Tras la muerte de su mamá, entró en un estado de depresión crónica, por lo cual tuvo que ser intervenida con psiquiatra. Este le sugirió que aparte de dedicarse a las labores del hogar debería ocupar el tiempo restante en otra actividad. Por esta razón y con la ayuda de su hermana montaron una tienda para que la administrara, laborando de 8 de la mañana a 8 de la noche. Con esta actividad ella colabora con los gastos del hogar. Su mayor sueño es poder colocar al lado de su tienda un puesto de comidas rápidas, según ella es un buen negocio porque en el momento no existe ninguno en el sector, como no cuenta con los recursos para realizar esta inversión, solicita un crédito que le permita materializar su proyecto.
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.