Flor is 55 years old and has gained the admiration and respect of those in her community due to her courage and desire to help her family get ahead.
She works in a cafeteria during the week and decided to complement this job with selling clothing on the weekends. She sells in her town's main market.
Through her efforts, she has offered her family a higher quality of life.
Currently, she seeks to improve her financial stability and put her children through college. She is sure that it is thanks to her work that her goals have been accomplished. Today Flor is asking for a loan that she will use to stock up on items to sell. In this way, she will meet the needs of her customers and increase her income.
Flor tiene 55 años de edad. Se ha ganado la admiración y el respeto de las personas de su comunidad, apreciada por su valentía y deseos de sacar adelante su familia.
Labora en una cafetería en semana y desde hace 4 meses decidió alternar esta actividad con la venta de prendas de vestir en el parque principal de su localidad, negocio que abre los fines de semana.
Con su pujanza le ha brindado una mejor calidad de vida a su grupo familiar.
En la actualidad desea mejorar su condición económica y colaborarles a sus hijos con la universidad. Asegura que gracias a su trabajo muchos de sus sueños se han cumplido. Hoy Flor se encuentra solicitando un crédito que invertirá en la compra de surtido con el fin de satisfacer las necesidad des de sus clientes y aumentar sus ingresos.
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.