María, 54 years old, runs her own grocery store, a store that she opened about 30 years ago and through which she has been able to generate the income to provide for her 4 children. María says that she enjoys being independent, and the fact that her business is located at her house, also allowed her to take care of her home.
Several years ago, due to increase of violence in her neighborhood, María was forced to close her business, as she feared for her safety and that of her family. At that point, she began to work as a “Community Mother” with the ICBF (the Colombian Institute of Family Welfare), and ever since the situation improved in her neighborhood and she re-opened her business, María has been carrying out both activities.
Now, in an effort to further improve her business, María is requesting a loan to buy a refrigerator and wholesale supplies (snacks, soft drinks, bulk grains, biscuits, dairy products, among others). In this way she will be able to increase her stored merchandise -especially dairy and meat products- and have a larger variety of supplies available to meet her customers’ needs, which would be positive for the family finances.
María wishes to continue to work to make her business grow, and generate higher returns by increasing the stock of her products, so that her customers may find everything they need. This will help her to achieve economic stability and a pleasant quality of life that she may enjoy with with her loved ones.
María, con 54 años de edad, se dedica a atender su negocio, una tienda de abarrotes que inició hace aproximadamente 30 años, con la que ha generado los ingresos suficientes para sacar a sus 4 hijos adelante. Manifiesta que le gusta ser independiente, pues al tener su negocio en la casa donde vive, le permite seguir al frente de su hogar. Hace varios años, ella se vio obligada a cerrar su negocio debido a la violencia que se desató en el barrio, pues temía por su vida y la de su familia; durante este tiempo comenzó a trabajar como madre comunitaria con el ICBF y hoy en día alterna ambas actividades, dado que la situación mejoró notablemente en el sector. La cliente, en su afán de seguir fortaleciendo su negocio, solicita el crédito para comprar una nevera y surtido al por mayor (mecato, gaseosas, granos, galletería, lácteos, entre otros), de esta forma aumentará su capacidad de almacenamiento, especialmente de lácteos y cárnicos y tendrá más variedad de productos disponibles para satisfacer los gustos y necesidades de sus compradores, afectando positivamente la entrada de dinero a las finanzas familiares. María desea seguir trabajando para hacer crecer su negocio, ampliando su portafolio de productos para que sus clientes encuentren todo lo que requieren y así poder generar mayor rentabilidad, dando la oportunidad de tener una estabilidad económica favorable y una calidad de vida deseada, para disfrutarla al lado de los que ama.
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.