Ángela María is 29 years old and is an entrepreneurial woman who wants to create a better future for herself and her four year old son. She works daily in a betting hall but her salary is not enough to cover her needs and those for her son’s education, so she was determined to invest part of her salary and buy chickens to raise and sell to a nearby store. In this way she can combine both activities.
She has been able to use the extra money to improve her family’s living conditions. Her great dream is to be able to buy her own home and expand her new business so she can dedicate herself fully to this and have time to spend with her son. She is asking for this loan so that she can buy 120 chicks to raise and make some improvements to the coup. She will use the money to increase her income and make her first house payment.
Ángela María de 29 años de edad es una mujer emprendedora, que desea un mejor futuro para ella y su hijo de 4 años de edad. Labora diariamente en una casa de apuestas, pero su salario no alcanza a cubrir sus necesidades y la educación de su pequeño, por lo cual tomó la determinación de invertir parte de su salario en la compra y cría de pollos de engorde, los cuales distribuye a una tienda cercana. De esta manera Ángela combina las dos actividades.
Con el dinero extra que genera ha podido mejorar las condiciones de vida de su familia. Su gran sueño es poder comprar vivienda propia y expandir su nuevo negocio con el propósito de dedicarse de lleno a esta actividad y tener más tiempo para compartir con su hijo. Actualmente se encuentra solicitando un crédito con el que desea comprar 120 pollos de engorde, cuido y realizar algunas adecuaciones al galpón. Con esta inversión espera generar mayores ingresos y dar la cuota inicial para su vivienda.
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.