Doris is 60 years old. Her business is making and selling arepas and it has enabled her to support both herself and her six children since her husband left her.
Doris gets up very early every morning and starts her work making arepas which she sells in her area. In this way, she makes the income she needs to cover her household expenses.
Doris is requesting this loan to make some changes to her work space. She will also buy a stainless steel table and a sheet pan rack so that she can increase her production capacity and improve her income. She hopes that her business will allow her to save up enough money to buy her home and to improve her quality of life.
Doña Doris de 60 años de edad. Se dedicado a la fabricación y comercialización de arepas, actividad que le ha permitido generar el sustento para ella y sus seis hijos, después de sufrir el abandono de su esposo.
Diariamente se levanta muy temprano e inicia su faena en la fabricación de arepas, las cuales distribuye en su localidad, de esta manera esta mujer genera ingresos para solventar los gastos en su casa.
Hoy se encuentra solicitando un crédito para adecuaciones locativas y la compra de mesa inoxidable y un escabiladero; con el fin de aumentar su capacidad de producción y mejorar sus ingresos. Espera que su negocio le permita ahorrar para la compra de su vivienda y mejorar su calidad de vida.
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.