Omaira is a 58 year old, married, mother of four who works hard to get her children ahead in life. For about twenty years, she has been engaged in preparing and selling “empanadas” [pastry filled with chopped or ground meat, vegetables, fruit, etc., and usually baked or fried]. She learned this skill from her grandmother and it has become her main source of income today. Her business is located in the garage of her sister’s house. She works alone from 5:00 to 10:00 pm and to her advantage, she is known in her area for her experience and her product’s quality and flavor. In this way, she has managed to earn income to support her husband with the household’s financial burden.
The loan she is requesting will be allocated to the purchase of wholesale ingredients (potatoes, cornflower, oil, sauces, and other items). This will allow her to have enough basic ingredients available to meet demand and improve her income. Omaira says that, in time, her goal is to provide her business with permanence and continuity. For this reason, she keeps working arduously to achieve her goal. In the near future, she hopes to have the possibility of a better quality of life for her family.
Omaira, a sus 58 años de edad, es casada y madre de 4 hijos a los que sacó adelante con mucho esfuerzo.
Desde hace aproximadamente 20 años, se dedica a elaborar y vender empanadas, actividad que aprendió de su abuela y que, hoy en día se ha convertido en su principal fuente de ingresos. El negocio se encuentra ubicado en el garaje de la casa de una hermana, trabaja sola todos los días de 5 a 10 pm y cuenta con la ventaja de ser reconocida en el sector por su trayectoria y por la calidad y el sabor de su producto; así ha logrado obtener ingresos para apoyar a su esposo con la carga económica del hogar.
El crédito solicitado será destinado para comprar insumos al por mayor (papas, harina de maíz, aceite, salsas, entre otros), esto le permitirá tener disponibilidad de materia prima suficiente para satisfacer la demanda y mejorar los ingresos.
Omaira manifiesta que su propósito es darle continuidad y permanencia en el tiempo a su negocio, por ello sigue trabajando arduamente para lograrlo y en un futuro cercano tener la posibilidad de dar mejor calidad de vida a su familia.
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.