Yamilet Del Socorro
Update on Yamilet Del SocorroAt the age of 49, Yamilet has been working for 18 years selling snacks from place to place because of the difficult economic situation she’s in that’s even more difficult now because of her spouse’s state of health. He has cancer and needs specialized care and expenses have increased. With six children to care for, this woman deserves admiration and respect because despite her circumstances she’s not retreated and she’s clear that with effort it’s possible to move her family forward. Today, she’s asking for a loan to buy an assortment of snacks and to repair the cart she uses to transport her goods. Her greatest wish is to improve her family’s quality of life and forget economic needs.
Su mayor anhelo es mejorar la calidad de vida de su familia y olvidarse de las necesidades económicas.
Previous Loan DetailsYamilet del Socorro J. C. is 48 years old and her dream is to have her own locale in which to sell her products. She is an untiring fighter who several years ago starting street vending salpicones and cremas (fruit and juice treats), among other products, outside a school. Her business makes it… More from Yamilet Del Socorro's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid