María is 43 years old. After she was married, María worked maintaining her house and then caring for her two children, ages 11 and 8. To contribute toward household expenses, she began to sell footwear imported from Spain, which is where her cousin lives.
A year and half ago, María separated from her husband and had to assume all of the responsibilities of her home, including the education of her children, because her husband has not taken responsibility. Thanks to her footwear business, María has been able to provide her children with food and a good home. Now María would like to work full-time at her business with the intention of generating more profit and improving her family’s living conditions. For this reason she is requesting a loan to buy footwear. Her greatest dream is to be able to guarantee her children a quality education and better economic opportunities.
María de 43 años de edad, desde que se casó se dedicó a su hogar y posteriormente al cuidado de sus dos hijos de once y ocho años de edad. Para contribuir con los gastos del hogar comenzó a vender calzado importado de España, ya que una prima se encuentra radicada en este país.
Desde hace año y medio se separó de su esposo y debió asumir todas las responsabilidades de su casa y la educación de sus hijos ya que su cónyuge no se hizo cargo. Gracias a su actividad esta mujer les brinda a sus hijos alimentación y una vivienda diga. Hoy quiere dedicarse de lleno a su negocio con el fin de generar mayores ganancias y mejorar sus condiciones de vida, por esta razón se encuentra solicitado un crédito para la compra de calzado.
Su mayor sueño es poder garantizarles a sus hijos una educación de calidad y mejores oportunidades económicas.
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.