Leidy is the mother of a three-year-old son, who is her greatest motivation. She works every day at a small stand where she sells food, soft drinks and snacks, a business with which she makes her living so that she can support her son. The initiative of creating her business came about due to the fact that her partner earns very little money in his job, and expenses increased with the birth of their son. So she decided to create a source of income for improving her household's quality of life.
With the aim of improving service in her business, Leidy is requesting a loan which she will use to buy a refrigerator for storing fruit and drinks. In this way, she hopes to increase her earnings and begin saving to buy a home.
Leidy es madre de un hijo de tres años de edad, el cual es su mayor motivación. Trabaja diariamente de en una pequeña caseta en donde vende comidas, refrescos y mecatos, actividad con la que se gana la vida para sostener a su hijo. Su iniciativa de crear su negocio surgió debido a que su cónyuge devenga muy poco dinero en su empleo y los gastos se incrementaron con el nacimiento de su hijo. Así que decidió crear una fuente de ingresos para mejorar la calidad de vida en su hogar.
Con el fin se mejorar el servicio en su negocio, Leidy se encuentra solicitando un crédito que invertirá en la compra de una nevera para el almacenamiento de frutas y bebidas. De esta manera espera aumentar sus ganancias e iniciar el ahorro para la adquisición de su vivienda.
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.