46-year-old Blanca is a woman who has had to work hard in life to find ways to provide her three children with food and a roof over their heads. Owing to her poor financial situation, Blanca has worked in a number of different jobs in order to make the money she needs to provide for her family.
Blanca's grandfather owned a store where Blanca learned the ropes and, when he died, she inherited the business in which she still works today. Thanks to her business, Blanca has managed to improve her quality of life and has been able to ensure her children receive an education. She is currently requesting a loan to buy basic household products with the aim of increasing her sales. Her biggest dream is to improve her financial situation.
Blanca 46 años de edad, es una mujer a la que le ha tocado rebuscarse la vida para brindarles a sus tres hijos una vivienda y alimentación. Por su difícil condición económica ha realizado todo tipo de labores con el fin de generar los recursos necesarios para la supervivencia familiar.
Su abuelo era propietario de una tienda, por lo cual Blanca aprendió de la labor y al fallecer este, ella se quedó con el negocio en el que labora actualmente. Gracias a su actividad ha logrado mejorar su calidad de vida y les ha brindado educación a sus hijos. En la actualidad se encuentra solicitando un crédito con el cual comprará productos de la canasta familiar, con el objeto de aumentar sus ventas. Su mayor sueño es mejorar su condición económica.
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.