Ana is 46 years old. She is a single mother of a 21 year old son. Her spouse never took responsibility, so she decided yo work to generate income to raise her son. She worked for a long time as maid, but her son became ill and she had to leave to take care of him. In the middle of a financial crisis because her job was her only source of income, Ana decided to sell merchandise via catalog from her home to neighbors and family. This allowed her to be around to take care of her son.
With this activity, she has been able to support her home and offer her son an education. Right now, she is seeking to improve her financial situation and so she is asking for a loan she will use to buy clothing and accessories in order to increase her income.
Ana de 46 años, es madre soltera de un hijo de 21 años de edad. Su pareja nunca se hizo responsable, por lo cual esta mujer se dedicó a laborar con el fin de generar ingresos para educar a su hijo. Laboró por mucho tiempo como empleada del servicio, pero su hijo se enfermó y se vio en la obligación de retirarse para cuidarlo. En medio de su crisis económica debido a que su trabajo era la única fuente de ingresos. Ana decidió dedicarse a la venta de mercancía por catálogo desde su casa a vecinos y familiares, lo que le permitió estar pendiente del cuidado de su hijo.
Con esta actividad ha logrado sostener su hogar y brindarle educación a su hijo. En la actualidad busca mejorar su situación económica por lo cual se encuentra solicitando un crédito que destinará en la compra de ropa y accesorios con el fin de aumentar sus ingresos.
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.