Magdalena is 45 years old and tells us that the most important thing for her is her children’s wellbeing, so she works hard to generate the income she needs to ensure that her family had a good quality of life. She gets up very early every day to do the household chores and then cares for her chickens and later sells cakes and beers from her living room. These two businesses have allowed her to feed her children and provide for their education.
She is asking for this loan so she can buy 100 chicks to raise. She will also buy inventory, especially beers so that she can increase her sales and generate more income to support her home.
Magdalena de 45 años, asegura que lo más importante para ella es el bienestar de sus tres hijos menores de edad. Razón por la cual se esfuerza para generar los recursos económicos que le aseguren a su familia una calidad de vida. Diariamente se levanta muy temprano a realizar las labores del hogar y posteriormente se dedica al cuidado de pollos y a la venta de mecatos y cerveza en la sala de su casa. Estas dos actividades la han permitido garantizarles a sus hijos educación y alimento.
Hoy se encuentra en búsqueda de un crédito que invertirá en la compra de 100 pollos, cuido de engorde y surtido, especialmente cerveza, con el objetivo de incrementar sus ventas y generar mejores ingresos para el sostenimiento de su hogar.
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.