41-year-old Soraida unfortunately lost her husband, a misfortune that motivated her to seek her own source of income as she has three young children and therefore a lot of expenses to meet. She works in the clothing industry from Monday to Saturday however her income is not sufficient to provide education for her children, so in her free time she also sells lingerie from a catalog.
Soraida is now requesting a loan to invest in merchandise for the end-of-year season, in order to improve her income and be able to give her children a happy Christmas. Her dreams are to start her own business, spend more time with her family and improve her economic status and quality of life.
Soraida de 41 años de edad, sufrió el infortunio de perder a su esposo, razón que la motivó a buscar una fuente de empleo debido a que tiene 3 hijos menores de edad, los cuales demandan muchos gastos. Labora en el sector de la confección de lunes a sábado, pero los ingresos no son suficientes para suministrarle a sus hijos educación por lo cual se dedica en el tiempo libre a la venta de ropa interior por catálogo. Actualmente se encentra solicitando un crédito el cuan invertirá en la compra de mercancía para la temporada de fin de año, con el fin de mejorar sus ingresos y poderles dar a sus hijos una feliz navidad. Su mayor sueño es montar su propio negocio para dedicarle más tiempo a su familia y mejorar su condición económica y la 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.