Ligia is 63 years old and she has dedicated her entire life to working various jobs so that she could give her two children better living conditions. 5 years ago, after suffering an accident that left her in bed for more than 6 months, she faced a difficult economic situation due to the fact that her work was her only source of income. Her son-in-law lent her money with which she decided to open a small general store in her house in order to make a living. With her business she has been able to improve her quality of life, but she would like her business to grow and to be able to convert it into a source of employment for other people. Motivated by that feeling and keeping in mind that the academic year is starting, Ligia is requesting a loan so that she can buy stationery and kitchenware with the goal of improving her sales and offering better service.
Ligia de 63 años de edad, ha dedicado toda su vida a laborar en trabajos varios para ofrecerle a sus dos hijos, mejores condiciones de vida. Hace 5 años, tras sufrir un accidente que la dejó en cama por más de 6 meses, se enfrentó a una difícil situación económica debido a que su actividad era la única fuente de ingresos. Su yerno le facilitó un dinero con el cual ella decidió montar en su casa una pequeña miscelánea con el fin de generar su sustento.
Con su negocio ella ha podido mejorar su condición de vida, pero desea que su empresa crezca y poder convertirla en una fuente de empleo para otras personas, motivada por este sentir y teniendo en cuenta que la temporada escolar comienza, doña Ligia se encuentra solicitando un crédito para la compra de papelería y cacharros; con el propósito de mejorar sus ventas y ofrecer un mejor servicio.
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.