Adriana has had to fight all her life to earn enough to live. The labor market doors were closed to her because she lack an education; therefore, she has resorted to low-wage jobs to survive. For more than 10 years, she has sold fried food from a corner in her house, and her business is well known. She works every day from early morning until dusk.
Adriana has applied for a loan so that she can grow her business by buying a fast-food cart to replace the one she has now, which is in poor condition. She dreams of improving her financial situation and quality of life.
Adriana es una mujer a la que le ha tocado guerrearse la vida incansablemente a fin de generar lo necesario para vivir. Por su carencia educativa, el mundo laboral le cerró las puertas, razón por la que recurrió al subempleo con el fin de sobrevivir. Desde hace más de 10 años se dedica a la venta de fritos en la esquina de su residencia, en donde ya es reconocida por su trabajo. Diariamente comienza muy temprano su faena hasta el anochecer.
Con el fin de seguir desarrollando su actividad, Adriana se encuentra solicitando un crédito que invertirá en la compra de un carro de comidas rápidas, con el fin de reponer el anterior que se encuentra en mal estado. Sueña con mejorar su condición económica y su calidad de vida.
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.