Ana Teresa, who is 64, lives in the town of Santa Bárbara in Colombia. She has always enjoyed working and, for 25 years, she has had her stall in the main park, where she sells men's and women's clothing. Her best customers are the farmers in the regions bordering the town. Ana’s greatest dream is to have proper business premises, as the biggest problem she faces is the climate which, in the rainy season, forces her to pack up her stock and lose money. She is currently applying for a loan to buy merchandise with which to stock her stall and improve her sales. She hopes to be able to enjoy a pleasant old age with her four children, as she lost her husband several years ago.
Ana Teresa de 64 años de edad, vive en el municipio de Santa Bárbara, Colombia. Toda su vida le ha gustado trabajar y desde hace 25 años tiene su puesto de trabajo en el parque principal en donde comercializa prendas de vestir masculinas y femeninas. Sus mejores clientes son los campesinos de las zonas aledañas al municipio.
Su mayor sueño es poder tener un almacén ubicado en un local, ya que su mayor dificultad es el clima, que en temporada de lluvia, obliga a Ana a recoger su surtido, causándole pérdidas monetarias.
En la actualidad se encuentra solicitando un crédito para la compra de mercancía, con el fin de surtir su negocio y mejorar sus ventas. Espera poder disfrutar de una linda vejez con sus cuatro hijos, ya que su esposo falleció hace algunos años.
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.