Mará Gabriela is 65 years old. She owns a restaurant, an activity she began for the purpose of generating her own income for the sustenance and education of her son. As a single mother, she has had to overcome many difficulties, but she always finds a way to come out ahead. Today she is asking for this loan to invest in ceramic pots, ladles and staple goods, with the aim of renewing the activities of her business, increasing new sales, and improving her family's quality of life.
Mará Gabriela de 65 años de edad, tiene un restaurante, actividad que inició con el fin de generar sus propios ingresos para el sostenimiento y la educación de su hijo. Por su condición de madre soltera ha tenido que atravesar por muchas dificultades, pero siempre encuentra la forma de salir adelante.
En la actualidad se encuentra solicitando un crédito que invertirá en la compra de ollas, cucharones y productos de la canasta familiar, con el fin de renovar los activos de su negocio, incrementar el nivel ventas, y mejorar la calidad de vida de su familia.
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.