María, 68, was widowed several years ago, so she had to assume responsibility for the household and the education of her two children. She decided to join forces with mothers who are heads of household and start her own business organizing events such as baptisms, weddings, and social events. She does this job from Thursday through Sunday and spends the rest of the week with her family and doing the domestic chores.
María says that often she can't offer her services because of a small budget and a lack of implements, which is why she's requesting a loan to invest in buying trays, pitchers, tablecloths, and tables and chairs. She's convinced that her business will begin to grow exponentially after she makes this investment.
Her biggest desire is to enjoy her old age with her family and not suffer any economic need.
María de 68 años de edad, enviudó hace algunos años, por lo cual debió asumir las responsabilidades del hogar y la educación de sus dos hijos. Decidió unirse con madres cabezas de familia y comenzar su propio negocio dedicado a la preparación de eventos, como bautizos, matrimonios y reuniones sociales. Realiza la actividad de jueves a domingo y el resto de la semana comparte con su familia y realiza los oficios domésticos. Debido al poco presupuesto y a la carencia de implementos, María asegura que en muchas ocasiones no puede prestar sus servicios, razón por la cual se encuentra solicitando un crédito que invertirá en la compra de bandejas, jarras, manteles, mesas y sillas.
Está convencida que después de realizar dicha inversión su negocio comenzará a crecer exponencialmente.
Su mayor deseo es disfrutar de su vejez con su familia y no padecer de ninguna carencia económica.
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.