Everlides is 49 years old and is determined woman who has made the well-being of her children (which she believes is of the greatest importance) her top priority. She has worked in the town market for 30 years, starting out as an assistant. Some time ago, she was able to gain her own spot in the plaza and start her own business. She works every day selling fruit and vegetables and this allows her to help provide for her family.
With the goal of increasing her profits, she is asking for a loan that she will use to stock up on goods. She dreams of improving the quality of life in her home and having greater financial stability.
Everlides de 49 años de edad, es una mujer echada para adelante que tiene claro que el bienestar de sus hijos es lo más importante, por lo cual se ha convertido en su mayor reto. Desde hace 30 años, labora en la plaza de mercado de su localidad, como ayudante y desde hace algún tiempo logró adquirir un puesto en la plaza e independizarse. Labora diariamente comercializando frutas y verduras, actividad que le permite generar los recursos para el sostenimiento de su familia. Con el fin de aumentar las ventas, se encuentra solicitando un crédito que invertirá en la compra de surtido. Sueña con mejorar la calidad de vida de su hogar y tener una mejor condición económica.
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.