María, age 60, is a determined and vibrant woman. She is the mother of four children who she has helped to move forward as a result of her effort and dedication.
Throughout her productive life, María has worked as a traveling vendor. She walks around with her push cart through different streets in the central part of the city. This is how she earns income to support herself. All of the financial responsibilities have fallen on her since she separated from her husband.
Some time ago María was in a traffic accident and injured her hip, which prevented her from working. For this reason, she needs to generate income in order to survive. She felt obligated to request a loan in order to restart her business as a street vendor. María will use the money to buy thermal containers for coffee, herbs, cigarettes, pastries, and other products that she can offer to her longtime customers. She hopes to have the financial capacity needed to fulfill her dream of enjoying a decent retirement and better living conditions.
María es una mujer luchadora y pujante de 60 años de edad, madre de 4 hijos a los que sacó adelante con empeño y dedicación.
Durante su vida productiva ha trabajado como vendedora ambulante, caminando con su chaza por diferentes calles del centro de la ciudad, así ha logrado generar los recursos para sobrevivir, pues toda la responsabilidad económica recayó sobre ella desde el día que se separó de su esposo. Hace algún tiempo sufrió un accidente de tránsito, por lo que se lastimó la cadera tuvo que dejar de trabajar, pero la necesidad de generar nuevamente los ingresos para su sustento la obligan a solicitar el crédito para reiniciar su actividad como vendedora ambulante; con el dinero comprará envases térmicos para café, aromáticas, cigarrillos, mecato y otros productos que ofrecerá a sus antiguos clientes, con lo que espera poder tener la capacidad económica para cumplir el sueño de disfrutar una vejez digna y con mejores condiciones 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.