María, at the age of 45, is a fighter who is full of dreams to accomplish. Her family is her greatest and constant motivation. Several years ago she decided to start her business project. She opened a small store where she makes breakfast and lunch and sells cakes and pop.
Thanks to this job, this woman provides food, housing and education for her family. She dreams of expanding her business and converting it into a company, so she is requesting a loan which she will invest in the purchase of supplies for making food. She hopes that her income will increase with this investment in order to guarantee her children a better quality of life and a good education.
María a sus 45 años de edad, es una guerrera llena de sueños por cumplir. Su familia es su mayor motivación y la razón que la motiva cada mañana. Desde hace algunos años decidió iniciar su proyecto de negocio, por lo cual montó un pequeño local en donde elabora desayunos, almuerzos y comercializa mecatos y refrescos.
Gracias a esta actividad esta mujer le brinda alimento, vivienda y educación a su familia. Sueña con expandir su negocio y convertirlo en una microempresa, para ello, se encuentra solicitando un crédito que invertirá en la compra de insumos para la preparación de alimentos. Espera que con esta inversión sus ingresos aumenten para garantizarles a sus hijos una mejor calidad de vida y una buena educación.
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.