María Dolly’s a woman who has had to dig deep in life in order to educate her two children. Seeking a source of income led her to open a store at home where she works every day. With this activity she’s been able to cover her needs and improve quality of life.
She’s currently asking for a loan to buy stock merchandise to meet customer demand. Her greatest dream is to increase income so she can enjoy economic stability.
María Dolly, es una mujer a la que le ha tocado rebuscarse la vida para educar a sus dos hijos. En búsqueda de una fuente de ingresos decidió montar en su vivienda una tienda en la que labora diariamente, con esta actividad ha podido solventar las necesidades y mejorar su calidad de vida. En la actualidad se encuentra solicitando un crédito con el cual comprará surtido, para satisfacer la demanda de sus clientes. Su mayor sueño es aumentar sus ingresos para gozar de una estabilidad 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.