Patricia is 45 years of age and has been characterized in her neighborhood as being an active and determined woman. She says she has always liked business and does not turn aside any opportunity for generating income for her home. She began her business selling prepared meals out of a borrowed car. As the flow of customers began to increase she decided to seek out a place to set up shop. However she thought the possibilities for growth were stronger in the area of groceries and so she decided to open up a grocery store.
Her greatest dream is to see her store become of the area's most in-demand, and so she finds herself seeking a loan which is intended for the purchase of liquor in order to increase her year-end sales. Her greatest challenge has been raising her three minor children since her financial situation has not been the best.
Patricia tiene 45 años de edad y se ha caracterizado en su barrio por ser una mujer activa y luchadora. Cuenta que siempre le han gustado los negocios y no desaprovecha ninguna oportunidad de generar ingresos para su hogar. Comenzó su negocio vendiendo comidas rápidas en un carro que le prestaron, como el flujo de gente comenzó a incrementar decidió buscar un local en donde montar su negocio, Pero vio mejores oportunidades de crecer en el sector de abarrotes, por lo cual decidió montar un granero. Su mayor sueño es ver su tienda como una de las cotizadas del sector, por lo cual se encuentra solicitando un crédito, que destinará para la compra de licor con el fin de aumentar sus ventas en fin de año. Su mayor reto ha sido sacar adelante a sus tres hijos menores de edad, ya que su situación económica no ha sido la mejor.
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.