Luz Elena’s a 36-year-old woman who watches over her two minor daughters’ well-being and support. Their education is what most concerns her because she herself was unable to complete higher education and she doesn’t want to see her daughters unable to avail themselves of this great privilege. Because of this, she struggles daily to generate income to support her home and offer her children a quality education. Her variety and stationery store has become her source of income and it’s led to her being able to enjoy better living conditions.
She’s currently requesting a loan to buy school supplies to increase sales during the back-to-school season. This will allow her to increase her income and offer improved well-being for her family.
Luz Elena es una mujer de 36 años, que vela por el bienestar y el sostenimiento de sus dos hijas menores de edad. Su educación es el tema que más le preocupa porque ella no tuvo la oportunidad de terminar su ciclo complementario y desea que sus hijas no se priven de este gran privilegio. Por esta razón lucha diariamente por generar los ingresos para el sostenimiento de su casa y para ofrecerles a sus hijos una educación de calidad. Su miscelánea y papelería se han convertido en su fuente de ingresos, lo que le ha permitido gozar de mejores condiciones de vida.
En la actualidad se encuentra solicitando un crédito para la compra de útiles escolares, con el propósito de generar mayores ventas en la temporada de regreso a clases. Esto le permitirá aumentar sus ingresos y ofrecerle a su familia mayor bienestar.
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.