Carmen, 42, is the mother of two children, ages 17 and 13. She and her husband work hard to earn the income they need to support their family.
Because of her duties as a housewife and the care her children require, Carmen decided to make a living selling catalogue merchandise to her friends, family members, and neighbors. Currently she wants to combine this job with selling merchandise (clothing and accessories), so she's requesting a loan to make this investment and improve her sales and her family's quality of life.
Her biggest dream is to give her children a good education.
Carmen de 42 años de edad es madre de 2 hijos de 17 y 13 años, en conjunto con su esposo trabaja arduamente para conseguir los ingresos necesarios para el sostenimiento que su familia.
Debido a los deberes como ama de casa y el cuidado que demandan sus hijos, Carmen optó por dedicarse a la venta de mercancía por catalogo a sus amigos, familiares y vecinos. En la actualidad desea combinar la actividad con la venta de mercancía (ropa, accesorios), por lo cual se encuentra solicitando un crédito para realizar dicha inversión y mejorar sus ventas, incrementando la calidad de vida de su familia.
Su mayor sueño es brindarles a sus hijos una buena educación.
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.