Esther, 37, is a mother and head of household. She started selling merchandise (clothes, shoes and personal care products) two years ago to family members, friends and neighbors as a way of supporting her family. She learned this type of work on her own and she insists that it’s become one of her greatest blessings because thanks to it she’s managed to improve her quality of life. She’s currently asking for a loan to buy merchandise. She dreams with moving her two children forward and to give them a quality education so that they can enjoy better employment opportunities.
Esther de 37 años de dad, es madre cabeza de familia y desde hace dos años inició con la venta de mercancía (ropa, calzado, productos para el cuidado corporal) a familiares, amigos y vecinos, como medio de sostenimiento para su familia. Aprendió la actividad de manera empírica y asegura que ha sido una de sus mayores bendiciones porque gracias ésta ha logrado mejorar su calidad de vida. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de mercancía.
Sueña con sacar a sus dos hijos adelante y brindarles una educación de calidad para que gocen de mejores oportunidades en el mundo laboral.
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.