Sara, 54 years old, is a single mother of four children, for whom she works hard with the goal of offering them better living conditions. She works daily from four in the afternoon to eleven at night selling chunchurría , something that she learned thanks to one of her brothers, who gave her his business so that she could eventually take over. Today she is the owner, and she would like to convert it into the place that is most visited by the local residents. She has asked for a loan in order to buy a spatula, tongs, a table and chairs with the goal of offering better service, since many of her customers have expressed their discomfort at not having a place to sit while enjoying her product.
Her greatest dream is to be able to buy a house in order to guarantee a better quality of life and not have to worry about rent every month. In addition, she dreams that her two younger children can enroll in university and become great professionals.
Sara de 54 años de edad, es madre soltera de 4 hijos, por los cuales trabaja fuertemente a fin de ofrecerles mejores condiciones de vida. Labora diariamente de cuatro de la tarde a once de la noche vendiendo chunchurría, actividad que aprendió gracias a un hermano, quien posteriormente le cedió el negocio para que ella lo trabajara. Hoy es la propietaria, por lo cual desea convertirlo en el lugar más visitado por los residentes del lugar, por esta razón se encuentra solicitando un crédito para la compra de espátula, pinzas, mesa y sillas con el fin de ofrecer un mejor servicio, ya que muchos de sus clientes le han manifestado la incomodidad de no haber un lugar donde sentarse mientras degustan su producto.
Su mayor sueño es poder adquirir una vivienda para garantizarle a su familia una mejor calidad de vida y no tener que preocuparse cada mes por la renta. Adicional a esto, sueña con que sus dos hijos menores de edad puedan ingresar a la universidad y convertirse en grandes profesionales.
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.