María is 49 and has a small grocery store, which she built through her own effort and sacrifice. She works every day from 7 am to 9 pm. At present she wants to resupply her store, with the goal of increasing her sales. This in turn will ensure that her children, aged 17 and 19, will have access to higher education.
She is certain that with this investment she will be able to increase her income. She dreams of expanding her business and turning it into a source of employment for her community.
María a sus 49 años de edad se dedica a la venta de productos de la canasta familiar, en una pequeña tienda que ha ido construyendo a través de su esfuerzo y sacrificio. Trabaja diariamente de 7:00 a.m. hasta las 9:00 pm. En la actualidad desea comprar surtido, con el fin de aumentar sus ventas y garantizarles a sus dos hijos de 19 y 17 años de edad el acceso a la educación superior.
Asegura que con dicha inversión mejoraran sus ingresos. Sueña con expandir su negocio y convertirse en una fuente generadora de empleo para su comunidad.
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.