Rosa María is 57 and is known for in her neighborhood for her generosity and friendly personality. She always dreamed of having her own business, so she started out by selling ice cream from her home. This was well received, and her customers began to ask for grocery items as well. This is how her business began more than 12 years ago.
Her greatest dream is to expand her shop and transform it into the first supermarket in her area. Thus she is seeking a loan so that she can stock her store, with the goal of increasing her sales. Her biggest challenge has been ensuring the well-being of her four children and providing them with an education, given that there have been many ups and downs in her financial situation.
Rosa María de 57 años de edad, se ha caracterizado en su barrio por su amabilidad y generosidad. Siempre soñó con tener su propio negocio, por lo cual inició su actividad comercial con la venta de helados en su vivienda, y gracias a la buena acogida, sus clientes comenzaron a demandarle productos de la canasta familiar. Así inicio su negocio con el cual lleva más de 12 años.
Su mayor sueño es ver crecer su tienda y convertirla en el primer supermercado autoservicio del sector, razón por la cual se encuentra solicitando un crédito, que destinará en la compra de surtido con el fin de aumentar sus ventas. Su mayor reto ha sido velar por el bienestar de sus cuatro hijos y brindarles educación ya que su situación económica se ha visto marcada por muchos altibajos.
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.