Olga is 46 years old. She is known in her neighborhood for her courage and determination in her quest to get ahead. The well-being of her family is her highest priority and because of this she decided to work so she could help her husband improve her family’s financial situation.
With her family savings and her husband’s know-how she opened a shop where she makes and sells keys and locks. She works everyday from 8 in the morning until 7 at night. She is currently requesting a loan that she will use to maintain her key cutting machines and to stock her shop in order to increase her sales.
Her dream is to stay with her family and ensure the well-being and education of her five children.
Olga de 46 años de edad, es conocida en su barrio por su valentía y empeño de querer salir adelante. Asegura que el bienestar familiar es su mayor prioridad y por ello decidió trabajar a fin de mejorar las condiciones económicas de su hogar y ayudarle a su esposo.
Con los ahorros familiares y con el conocimiento de su cónyuge montó un taller dedicado a la elaboración y venta de llaves y chapas. En el cual labora diariamente de ocho de la mañana a siete de la noche. En la actualidad se encuentra solicitando un crédito que destinará en el mantenimiento de máquinas para la elaboración de llaves y la compra de surtido a fin de mejorar las ventas.
Su mayor deseo es permanecer en unidad con su familia y velar por el bienestar y la educación de sus cinco hijos.
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.