Amparo, 54, is a warrior who after separating from her spouse noted that the size of her house gave her the opportunity of renting rooms at home. She’s earned her livelihood this way and was able to school her son. At present, one of the room’s bathrooms is damaged and needs repairs which is what’s motivated her to request a loan since she does not have the resources for said investment. She hopes to improve her economic situation and guarantee her customers adequate service.
Amparo de 54 años de edad, es un guerrera, que después de separarse de su cónyuge vio como oportunidad de negocio alquilar habitaciones en su residencia debido al tamaño de su vivienda, de esta manera se ha ganado la vida y le ofreció a su hijo educación. En la actualidad uno de los baños de las habitaciones presenta inconvenientes por lo cual requiere de algunas reparaciones, razón que la ha motivado a solicitar un crédito ya que no cuenta con los recursos para realizar dicha inversión.
Espera mejorar su condición económica y garantizarles a sus clientes una adecuada prestación del servicio.
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.