Adriana is 40 years old and is a single mother to her 15 year old daughter. Since she was young she has worked as a seller in different shops in the municipality of Itagüí, Antioquia, in Colombia.
6 years ago she made the decision to become independent and with the money she had saved up over so many years of working, she set up her own business - selling clothes and footwear. This activity is her only source of income for her and her family.
Adriana is currently asking for a loan so that she can buy merchandise for her end of year sale, as business increases at this time. Her biggest dream is to be able to offer her daughter a good education and to improve her quality of life.
Adriana de 40 años de edad es madre soltera de una adolescente de 15 años. Desde joven a laborado como vendedora en diferentes almacenes del municipio de Itagüí, Antioquia, Colombia. Hace 6 años tomó la decisión de independizarse y con los ahorros de tantos años de trabajo montó su propio negocio; venta de ropa y calzado. Esta actividad es su única fuente de ingresos y de sostenimiento de ella y su familia. Actualmente se encuentra solicitando un crédito con el que comprará mercancía para la venta de fin de año, debido a que el comercio incrementa para esta fecha. Su mayor sueño es poderle ofrecer a su hija una buena educación y mejorar su 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.