50-year-old María is a single mother with four children. She has put her heart and soul into bringing up her children on her own as her husband left her without fulfilling any of his responsibilities.
As a single mother who also had housework to take care of, María started out selling clothing from home. Later, as her number of customers increased and her products became popular, she rented a sales location. She has been in the market for more than 10 years now and this gives her a lot of security and satisfaction.
María's biggest wish is to continue growing her business. She is requesting this loan to invest in buying merchandise which will allow her to increase her sales and make more income so that she can improve her family's living conditions and guarantee her children a better education.
María de 50 años de edad, es madre soltera de cuatro hijos, los cuales sacó sola adelante con esfuerzo y dedicación, debido a que su cónyuge la abandonó sin asumir ninguna responsabilidad.
Por su condición de madre soltera y las labores que debe realizar como ama de casa, se dedicó a la venta de ropa desde su hogar. Posteriormente con el incremento de clientes y la acogida de sus productos alquiló un local. Hoy lleva más de 10 años en el mercado lo que le brinda mucha seguridad y satisfacción.
Su mayor deseo es seguir creciendo, razón por la cual se encuentra solicitando un crédito que invertirá en la compra de mercancía, lo que le permitirá aumentar sus ventas y generar mayores ingresos para mejorar las condiciones de vida en su hogar y garantizarles a sus hijos una mejor 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.