Andrea is 24 years old and a single mother with one child who is three years old. She has had to work since she was young because of her family’s precarious economic situation. She says that everything she has been able to achieve is the product of her hard work and determination. Each day she works in her business selling liquor and soft drinks.
Andrea is requesting this loan to stock her business with liquor and soft drinks and to buy tables so that she can offer better service to her customers. Her greatest wish is to grow her business within the local market, and in the near future expand her business by opening new locations.
Andrea de 24 años de edad, es madre soltera de un hijo de 3 años. Desde joven a tenido que laborar debido a la precaria condición económica de su familia. Asegura que todo lo que ha conseguido no es más que el fruto de su esfuerzo y dedicación. Labora diariamente en su negocio dedicado a la venta de licor y bebidas refrescantes. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de surtido y mesas para la prestación de un mejor servicio.
Su mayor deseo es crecer dentro del mercado local y en un futuro próximo abrir nuevas sedes para expandirse.
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.