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Help us reach more people in 2016!
Dear Kiva Lender,
Kiva facilitates loans to more than 4,000 borrowers
every week, but since 100% of money lent on Kiva goes to funding loans we rely on donations from supporters like you to continue this important work.
If every Kiva lender seeing this banner pitched in $25 for our Donation Drive, we'd hit our goal of $600,000 by Dec 31!
Thanks for your continuing partnership in making the world a fairer place.
Nohemy, 41, recognizes that her family's stability depends not only on her husband's participation, but also on hers. So she decided to help her husband in supporting the family and began selling housewares such as fans, grills, pans, and crock pots from her home to earn money. Thanks to the business, her children have better education opportunities. She has applied for a loan to buy inventory to meet current demand and continue growing her share of business in the local market.
Nohemy de 41 años de edad, es una mujer que tiene claro que la estabilidad de su familia es un tema que no solo le compete a su esposo, si no del que ella también hace parte, por lo cual decidió ayudarle a su cónyuge con la carga familiar e inició vendiendo productos para el hogar como ventiladores, sanducheras, ollas arroceras entre otros. Actividad que realiza desde su vivienda y le permite mejorar los ingresos. Gracias al desarrollo de esta actividad, sus hijos gozan de mejores oportunidades educativas.
En la actualidad se encuentra solicitando un crédito que invertirá en la compra de surtido con el fin de satisfacer la demanda actual y seguir creciendo dentro del mercado local.
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.