María is 57 years old and runs her own business, a clothing and shoe store she has owned for several years. She started it as a way of obtaining profits which have allowed her to support her household, because she has been the family's sole breadwinner ever since she separated from her husband. In addition, she sells merchandise by catalog, which is how she supplements the income she earns for her work. She currently requests the loan in order to use it to purchase an assortment of wholesale merchandise (blouses, jeans, shoes, sandals, perfumes, body lotion, cosmetics, etc.), do remodeling work and purchase shelves. This will allow her to meet her customers' needs during Christmas season, when her sales increase. Besides, she'll be able to better display her products and improve the appearance of her premises, which will help her to attract new potential customers. María reports that her main goal with this business is to eventually enjoy old age with a steady income. This will provide her with stability and peace of mind so that she can share a better quality of life with her children.
María, a sus 57 años de edad, se dedica a trabajar en su propio negocio, un almacén de ropa y calzado que tiene hace varios años y, que inició como una alternativa para generar ingresos que le permitieran llevar el sustento a su hogar, pues es madre cabeza de hogar desde que se separó de su esposo. Adicionalmente vende productos por catálogo, con lo que complementa los ingresos que percibe por su labor. Actualmente solicita el crédito para invertirlo en la compra de surtido al por mayor (blusas, jeans, zapatos, sandalias, perfumería, cremas corporales, cosméticos, entre otros), realizar adecuaciones locativas y comprar una estantería, esto le permitirá satisfacer las necesidades de sus clientes en la temporada de navidad, en la que sus ventas se incrementan, además podrá exhibir mejor sus productos y dará una mejor imagen al local, lo que le ayudará a atraer nuevos y potenciales clientes.
María manifiesta que su principal interés con el negocio es llegar a disfrutar su vejez con un ingreso fijo que le proporcione estabilidad y tranquilidad, para compartir con sus hijos una mejor calidad de vida.
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.
A loan of $1,575 helped María Oliva to purchase an assortment of wholesale merchandise (blouses, jeans, shoes, sandals, perfumes, body lotion, cosmetics, etc.), do remodeling work and purchase shelves.