Lina, age 35, is a single mother, and she has a one year old child. Her child has become her greatest motivation to get ahead. She wants to get ahead in order to give him better opportunities in life.
She says that she got her work experience on the street as an itinerant seller of cell phone minutes and games of chance. Due to the time that her child requires, Lina decided to use her savings to create a small store selling provisions and basic food products. She does this in order to take care of her baby and to generate the income needed to support her household.
She is now requesting a loan to buy stock. Her objective is to improve her sales and increase her income. This will allow her to improve their living conditions and to offer her child a better future.
Lina de 35 años, es madre soltera de un niño de un año de edad, el cual se ha convertido en su mayor motivación para salir adelante con el fin de brindarle mejores oportunidades de vida.
Cuenta que su experiencia laboral la adquirió en la calle como vendedora ambulante de minutos de celular y chance-juegos de azar-.
Debido al tiempo que le demanda su hijo, Lina optó por destinar sus ahorros a la creación de una pequeña tienda de víveres y productos de la canasta familiar, con el fin de cuidar de su bebe y generar los ingresos necesarios para el sostenimiento de su hogar. En la actualidad se encuentra solicitando un crédito que destinará en la compra de surtido con el objeto de mejorar sus ventas e incrementar sus ingresos que le permitan mejorar sus condiciones de vida y ofrecerle a su hijo un mejor futuro.
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.