María, 48 years old, has been working selling food (from a food cart) since 1999. At the time her family was experiencing economic difficulty, so she started her business to help earn money to feed her 5 children and support her family's daily needs. Approximately 8 years ago, María became solely responsible for her family's well-being, as she suffered the loss of her husband. Nevertheless, despite the pain that she went through, she found the strength to move on. Motivated by her love for her family, she worked hard to grow her business and with the help of local authorities she managed to secure a fixed location from which to sell her food. This has helped her to attract more clients.
Currently, she is asking for a loan to buy a refrigerator and wholesale ingredients such as meat, flour, cooking oil, vegetables, sodas, and coffee among other items. With these goods she will be able to offer her clients better service and satisfy their demands. She will earn more money with which she will continue to support her children, as well as invest more in strengthening her business. In the future, she hopes that it grows to be large enough that it generates employment opportunities for others.
María, con 48 años de edad, se dedicó desde el año 1999 a vender comida de manera ambulante, idea que surgió de la precaria situación económica por la que atravesaba su familia, con la idea de generar más ingresos para llevar el alimento diario a sus 5 hijos y solventar los gastos básicos del hogar. Desde hace aproximadamente 8 años toda la responsabilidad económica del hogar, recayó sobre ella, ya que sufrió la pérdida de su esposo; sin embargo, luego de afrontar su dolor tuvo que tomar nuevamente la fuerza para seguir adelante, motivada por el amor a su familia, se dedicó a sacar adelante su negocio y con la ayuda de las autoridades de espacio público logró organizar mejor el puesto de trabajo; logrando atraer más clientes. Actualmente solicita nuestro apoyo, ya que con el dinero del crédito requiere comprar un enfriador e insumos al por mayor (carnes, harina, aceite, verduras, gaseosas, café, entre otros), así tendrá la posibilidad de ofrecer un mejor servicio y satisfacer la demanda de sus clientes; lo que le permitirá generar mejores ingresos para seguir apoyando a sus hijos y para invertir más en su unidad de negocio, así lo irá fortaleciendo y en un futuro espera que crezca lo suficiente para poder generar oportunidades de empleo.
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.