Amanda, 60, is a very enthusiastic woman who is determined to seek a better future for her three children and grandchildren. For over 20 years she has been selling shoes in the city center out of a small stall that she was able to build with much dedication and hard work.
Her family is her main motivation and she works every day from 8:00 a.m. to 7:00 p.m.
She is requesting a loan to buy a variety of products so she can increase sales for Mother's Day. She hopes the quality of life in her household will improve so she can give her grandchildren a good education.
Amanda a sus 60 años de edad, es una mujer entusiasta y con muchas ganas de buscar un mejor futuro para sus tres hijos y nietos. Desde hace más de 20 años se dedica a la venta de calzado en el centro de la ciudad, en una pequeña chaza que logró construir con dedicación y años de trabajo.
Su familia es su principal motivación. Labora diariamente de ocho de la mañana a siete de la noche.
Se encuentra solicitando un crédito que invertirá en la compra de surtido con el fin de incrementar las ventas para el día de madres. Espera que la calidad de vida de su hogar mejore y poder brindarles a sus nietos una buena 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.