Claudia is a female head of a household of three minor children. She lives in a neighborhood in the city of Medellín, which has fragile public order. She has worked her whole life to survive and to provide her children with a roof, food and education.
Two years ago, she decided to quit her job to focus on caring for her children, due to the delicate situation in her neighborhood. Although her income reduced to zero, expenses were constant, which is why she found it necessary to look for a new source of income. At the suggestion of a friend, she started making arepas and selling them to her neighbors.
Now her business is in the process of expanding because her market has grown. Now she produces not only for her neighbors, but for the stores and supermarkets in the area. This is why she is applying for a loan that she will invest in the purchase of an electric mill, optimizing time and money, and increasing her earnings.
She hopes to improve her quality of life and that of her family, guaranteeing better educational opportunities for her children.
Claudia es madre cabeza de familia de tres hijos menores de edad, reside en un barrio de la ciudad de Medellín, cuyo orden público es delicado. Toda su vida ha trabajado para subsistir y ofrecerles a sus hijos techo, comida y educación.
Desde hace dos años decidió retirarse de su trabajo para dedicarse al cuidado de sus hijos debido a la delicada situación en su barrio. Aunque sus ingresos se redujeron a cero, los gastos permanecieron constantes, por lo cual, se vio en la necesidad de buscar una fuente de ingresos. Por sugerencia de una amiga, comenzó elaborando arepas y comercializándolas entre sus vecinos. Ahora su negocio se encuentra en vía de expansión porque su mercado se ha incrementado, ahora no sólo produce para sus vecinos sino para las tiendas y supermercados del sector. Por esta razón se encuentra solicitando un crédito que invertirá en la compra de un molino eléctrico, optimizando tiempo, dinero e incrementando sus utilidades.
Espera mejorar su calidad de vida y la de su familia, garantizándoles a sus hijos mejores oportunidades educativas.
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.