María is 42 years old. She has always worked in different sectors of the economy since she considers giving her three children better living conditions the most important thing.
Eight years ago, she started to work as the administrator of a store selling bags in her community, but she later decided to resign and start her own business in order to improve her financial situation and her family's quality of life. Now she has had her business for five years and she said it has been the best decision because it allows her to spend more time with her family.
Currently she is requesting this loan to invest in the purchase of merchandise in order to increase her sales and improve her income, which she hopes will give her children a quality education.
María de 42 años de edad, siempre ha laborado en diferentes sectores de la economía, debido a que considera que lo más importante es garantizarle a sus tres hijos mejores condiciones de vida.
Hace ocho años comenzó a laborar como administradora de una tienda de bolsos en su localidad, pero posteriormente decidió retirarse y crear su propio negocio a fin de mejorar su condición económica y la calidad de vida de su familia.
Hoy lleva cinco años con su tienda y asegura que ha sido la mejor decisión ya que su trabajo le permite compartir más tiempo en familia.
En la actualidad se encuentra solicitando un crédito que invertirá en la compra de surtido con el fin de aumentar sus ventas y mejorar sus ingresos, con los que espera poder garantizarle a sus hijos una educación de calidad.
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.