María Nidia, age 39, is a single mother, and she has a 13 year old child. She resides in Vereda El Pescado in the Valdivia municipality in Colombia.
She has been selling snacks for 12 years. She sells at a small location close to the resorts in the municipality. The reason she is there is that it is a strategic sales location. This is a tourist place, and it is very popular with locals and people from the entire region.
Motivated by the flow of people, this woman wants to expand her business. Therefore, she is requesting a loan to buy a computer. She wants the computer to enhance the audio and to increase the variety of music in her business in order to improve sales.
María dreams of seeing her business grow. This will allow her to improve her living conditions and to provide her child with a better education.
María Nidia de 39 años, es madre soltera de un niño de 13 años de edad, radicada en la vereda el pescado del municipio de Valdivia, Colombia. Desde hace doce años se dedica a la venta de mecatos en un pequeño local ubicado cerca de los balnearios del municipio, razón por la cual resulta un punto estratégico para la venta, debido a que este lugar es zona turística y es muy visitado por residentes y foráneos de toda la región.
Motivada por el flujo de personas, esta mujer quiere expandir su negocio, por lo cual se encuentra solicitando un crédito para la compra de un computador para mejorar el sonido e incrementar la variedad de música de su negocio, para mejorar sus ventas.
María sueña con ver crecer su negocio, permitiéndoles mejorar su condición de vida y ofrecerle a su hijo una mejor educación.
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.