María, 47, is a housewife. She’s been helping her husband with household expenses for the last year. She makes chicken and meat pies that she sells to stores and local cafés in her neighborhood.
Thanks to this new source of income, María feels that her family’s quality of life has improved which is why she’s asking for a loan to buy a fryer and ingredients like corn, chicken and meat to increase production. Her greatest dream is being able to open her own café and to work alongside her husband.
María de 47 años de edad, es ama de casa, Desde hace un año le ayuda a su esposo con las gastos del hogar, elabora pasteles de pollo y carne los cuales distribuye en las tiendas y cafeterías del sector.
Gracias a la generación de nuevos ingresos, María considera que la calidad de vida familiar ha mejorado. Razón por la cual se encuentra solicitando un crédito que invertirá en la compra de una freidora e insumos como maíz, pollo y carne, para aumentar su producción.
Su mayor sueño es montar su propia cafetería y laborar en conjunto con su esposo.
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.