Gloria is 49 years old. She is a housewife and the mother of five children. Because of the economic conditions that her family suffered, she created her own business, guaranteeing her children access to an education and the right to a dignified life.
She sells fast food in front of her home, a business that she learned empirically and does every day.
With the goal of continuing with her sales, Gloria is applying for a loan that she will invest in the purchase of a fast food cart, because the one that she has now is in bad condition. Her great dream is to have her own restaurant and offer her family better living conditions.
Gloria de 49 años de edad, es ama de casa y madre de cinco hijos, debido a las condiciones económicas que padeció su familia, creó su propio negocio garantizándoles a sus hijos el acceso a la educación y el derecho a una vida digna.
Se dedica a la venta de comidas rápidas al frente de su residencia, actividad que aprendió empíricamente y realiza todos los días.
Con el propósito de continuar con sus ventas, Gloria se encuentra solicitando un crédito que invertirá en la compra de un carro de comidas rápidas, debido que al que posee actualmente se encuentra en mal estado. Su mayor sueño es tener su propio restaurante y brindarle a su familia mejores condiciones 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.