Cira del Socorro, age 60, is known in her community as a woman who works hard to get her family ahead. She has worked all of her life in different fields that have allowed her to acquire experience to set up her own business.
Thanks to the savings that she managed to accumulate working as a domestic employee, she was able to put her idea about her business to work. She started selling food in an itinerant manner on the streets of her municipality. Later, she set up her business at a small rented place.
Her greatest wish is to be able to improve her quality of life and to buy a place that will allow her to reduce her fixed costs. She dreams of being able to offer her grandchildren better educational opportunities. The lack of resources to have access to a good education makes it increasingly important.
Cira wants to get ahead and get better opportunities for her family. That is why she is requesting a loan to buy basic food items. She will do this in order to increase her production capacity for the end of the year season. This way she will be able to generate greater income.
Cira del Socorro a sus 60 años de edad es conocida en su comunidad como una mujer esforzada por sacar adelante a su familia. Toda su vida ha laborado en diferentes oficios que le han permitido adquirir experiencia para montar su propio negocio. Gracias a los ahorros que logró acumular mientras trabajó como empleada doméstica, pudo materializar su idea de negocio. Empezó vendiendo comidas como vendedora ambulante en las calles de su municipio. Posteriormente adecuó su negocio en un pequeño local que le alquilaron.
Su mayor deseo es poder mejorar su calidad de vida y comprar un local que le permita reducir los costos fijos. Sueña con poder ofrecerles a sus nietos mejores oportunidades de estudio debido a que por falta de recursos las limitaciones para acceder a una buena educación se hace cada vez más notorias. Por el deseo de salir adelante y obtener mejores oportunidades para su familia, Cira se encuentra solicitando un crédito para la compra de productos de la canasta familiar con el fin de aumentar su capacidad de producción para la temporada de fin de año y poder generar mayores ganacias.
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.