Update on Adriana PatriciaAdriana, age 34, is the single mother of four minor children. Her biggest dream is to give them a good education and to promise them a decent family life. Thanks to the opportunity of creating her own business that God gifted her with, she got what she needed to live, to feed her children, and a house in which to live.
Adriana gets up very early to do the household chores and to send her children to school. She later travels through the neighborhoods in her area searching for customers to whom she can sell her merchandise. In this way Adriana has become a great example for millions of single women in Colombia who have to be father and mother at the same time.
She is currently requesting a loan to buy new merchandise that customers have requested from her. She hopes that with this investment her sales and income will improve.
Su sueño más grande es brindarles una buena educación y garantizarle una vida digna a su familia. Gracias a la oportunidad que Dios le regaló de crear su propio negocio ella consigue lo necesario para vivir y darles a sus hijos alimentación y una vivienda donde alojarse. Adriana se levanta muy temprano para realizar las labores del hogar y enviar sus hijos al colegio, posteriormente se desplaza por los barrios de su localidad en búsqueda de clientes para la venta de su mercancía, de esta manera Adriana se ha convertido en un gran ejemplo para millones de mujeres solteras en nuestro país que tienen que ser padre y madre a la vez. En la actualidad se encuentra solicitando un crédito para la compra de nueva mercancía que le han solicitado, espera que con esta inversión sus ventas e ingresos mejoren.
Previous Loan DetailsAdriana Patricia started her business selling merchandise three years ago. She also works in a restaurant on weekends since she is responsible for supporting her family and providing for their daily needs. For Adriana Patricia, it is very important to continue growing in her business as her b... More from Adriana Patricia's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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