Maryit, 32, is the single mother of two children, ages 7 and 2. She has a small store in her living room where she sells basic household items. Her family encouraged her to open her business, and today Maryit has resources to support her family.
She has applied for a loan to buy stock, which will allow her to offer her customers better service, increase earnings, and give her children a better life. She dreams of owning a mini market and providing for the well being of her children.
Maryit a sus 32 años de edad es madre soltera de dos hijos de 7 y 2 años. Tiene una pequeña tienda en al sala de su casa dedicada a la venta de productos de la canasta familiar. Gracias a la motivación que recibió por parte de un familiar para que montara su negocio, hoy Maryit cuenta con recursos para el sostenimiento de su familiar. Hoy se encuentra solicitando un crédito para la compra de surtido, lo que le permitirá prestar un mejor servicio a sus clientes y a su vez incrementar sus ingresos con los que podrá brindarles a sus hijos una mejor calidad de vida. A futuro sueña con tener un mini mercado y brindarles un excelente bienestar a sus 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.