At 56 years of age, Rosa is the mother of three children. She loves her family and says that they are her primary source of motivation to get ahead. For many years she worked in the home of a family as a domestic employee, and then she decided to leave her job and start her own business in order to improve her earnings and spend more time with her family.
For the last 7 years she has had a store for special occasions dedicated to selling stuffed toys, chocolates and funeral cards. Thanks to her work, her living conditions have improved considerably. She is currently asking for a loan that she will invest in buying assorted items in order to offer greater variety to her clients.
Rosa, a sus 56 años de edad, es madre de tres hijos. Ama su familia y asegura que son su principal fuente de motivación para salir adelante.
Laboró por varios años en una casa de familia como empleada doméstica y posteriormente decidió retirarse y montar su propio negocio con el fin de mejorar sus ingresos y compartir más tiempo con su familia.
Desde hace 7 siete años tiene una tienda de sentimientos dedicada a la venta de peluches, chocolates y esquelas. Gracias a su trabajo sus condiciones de vida han mejorado considerablemente. Hoy se encuentra solicitando un crédito que invertirá en la compra de surtido con el fin de ofrecer una mayor variedad a sus clientes.
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.