Ángela is a single mother and has an adult son. She originally worked for a washing machine business in the rural area, but seeing how little profit the business was making, she decided to start up an information business where she provides a service of internet access, play station and more. By doing this she earns an income to support her family.
Angela's dream is to expand her business and to have a house of her own in the future.
Currently she will use the loan to buy a computer, a television, a play station and a display cabinet, to provide better access for her customers and neighbours who often use the services she provides in her business. This will give her additional income and she will be able to meet her obligations and improve her standard and quality of life.
Ángela es una mujer soltera y tiene un hijo mayor de edad, trabajaba inicialmente con un negocio de lavadoras en la zona rural, en vista de lo poco rentable que se puso el negocio, optó por iniciar con un negocio en informática donde presta el servicio de internet, play station, y más, de esta forma genera los recursos para brindar sustento a su familia. Ángela sueña con ampliar su negocio y en el futuro poder adquirir una casa propia. Actualmente utilizará el préstamo comprando un computador, un televisor, una vitrina, un play station, para ofrecer mayor cobertura para sus clientes y vecinos quienes utilizan con mucha frecuencia los servicios que ella presta en su negocio, así sus ingresos mejorarán de forma extraordinaria y podrá cumplir con sus obligaciones, mejorar su nivel y 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.