Morelia is 37 years old. She is a mother to two children aged nine and five years old. She is currently working as a teacher but her salary isn't enough to cover her household costs. For this reason, she has started her own business selling everyday food items.
She will open it in the afternoons when she finishes her shift at the school. She comments that the new income will substancially improve her daughters' quality of life. She hopes to continue working as a teacher as this is her great passion. She hopes to be able to turn her venture into a source of employment for more vulnerable people in her area.
Morelia tiene 37 años de edad y es madre de dos hijos de nueve y cinco años. En la actualidad labora como docente pero manifiesta que el salario es poco para los gastos que tiene como familia. Razón que la ha impulsado a crear su propio negocio dedicado a la venta de productos de la canasta familiar, el cual abrirá en horas de la tarde cuando termine su faena en la institución educativa donde labora. Asegura que nuevos ingresos mejorarán sustancialmente la calidad de vida de sus hijas.
Sueña con seguir laborando como docente, ya que su trabajo es su más grande pasión. Espera convertirse en una fuente de empleo para las personas más vulnerables de su localidad.
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.