María Yaneth, 44 years old, is a single mother of a minor child, who has become the most important reason to move ahead in order to give him a better future and better educational opportunities.
She worked as an employee for more than eight years selling vegetables in different businesses in her area. Seven months ago, she started her own vegetable shop with the savings generated from years of work.
Currently she is asking for a loan that she will use to buy vegetables with the goal of expanding the variety of products and improving sales.
Her greatest dream is to have her own building in order to reduce the cost of renting and increase her profits.
She hopes that with her new business she can give her son the opportunity to access a university education.
María Yaneth de 44 años, es madre soltera de un hijo menor de edad, el cual es ha convertido en la razón más importante para salir adelante a fin de brindarle un mejor futuro y mayores oportunidades educativas.
Laboró como empleada por más ocho años en la comercialización de legumbre en diferentes negocios de su localidad, y desde hace siete meses, montó su propia legumbrería, con los ahorros generados durante años de trabajo.
En la actualidad se encuentra solicitando un crédito que invertirá en la compra de legumbre con el propósito de ampliar la variedad de productos y mejorar las ventas.
Su mayor sueño es tener un local propio para reducir el costo del arriendo y aumentar sus utilidades.
Espera que con su nuevo negocio pueda brindarle a su hijo la oportunidad de acceder a educación universitaria.
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.