María has two young children and is a hard-working entrepreneur. She has been able to send her children to school thanks to her shop, where she works every day from 8 am to 8 pm. Her dream is to improve her shop and its displays, and to buy more merchandise, so as to have a greater variety of products on offer. She will do all this with the loan, including buying merchandise wholesale, such as pastries, fizzy drinks, and dairy products. Her aim is to keep providing a good service and to meet varied demand, so as to keep her customers happy. She hopes for an increase in income that will help her family live in comfort and without any major problems.
María, con dos hijos menores de edad, ha sido una mujer emprendedora y dedicada a su labor, lo cual le ha permitido brindarle el estudio a sus hijos hasta el presente, tiene una tienda en la que trabaja todos los días desde las 8am hasta las 8 pm, María sueña con tener una mejor adecuación de la tienda, ampliarla y comprar surtido para tener un buen stock de gran variedad, con el préstamo adecuará la tienda y surtirá al por mayor (mecato, gaseosas, lácteos, etc), así continuará brindando un buen servicio y surtido variado para satisfacer los gustos de su clientela, con lo que sus ingresos irán en aumento y disfrutará con su familia de un bienestar y confort sin mayores problemas.
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.