Amparo is a vibrant woman who is dedicated to her family. She is the mother of one son whom she has raised alone, since her husband died and all the responsibility and economic burden fell on her. With the goal of generating income to pay the basic household expenses, she set up a little grocery store in a space in her home, and in addition she prepares tamales and sells them among her friends and neighbors in the sector to supplement her income.
The loan that she is applying for is destined to make some changes in the kitchen and improve her working conditions. With this she will be able to prepare her foods with an appropriate level of hygiene and thus guarantee her customers a product of excellent quality and flavor, which will be reflected in an increase in her sales and, as a result, her income.
Amparo states that her greatest wish is to have her store in a more spacious location in order to have a greater storage capacity and to improve her level of sales. Thus she will be able to guarantee financial stability in order to offer a university education to her son and give a better quality of life to her family.
Amparo es una mujer pujante y dedicada a su familia, madre de 1 hijo al que ha sacado adelante sola, pues su esposo falleció y toda la responsabilidad y la carga económica recayó sobre ella. Con el fin de generar recursos para solventar los gastos básicos del hogar, inició una pequeña tienda de abarrotes en un espacio de su vivienda y, de manera adicional prepara tamales y los vende entre sus amigos y vecinos del sector, para complementar los ingresos.
El crédito que solicita está destinado para realizar adecuaciones en la cocina y mejorar las condiciones de trabajo, así podrá preparar los alimentos con un nivel de higiene adecuado y así garantizar a sus clientes un producto de excelente calidad y sabor, lo que se reflejará en el incremento de las ventas y por ende, los ingresos.
Amparo manifiesta que su mayor anhelo es tener su tienda en un local más amplio para tener mayor capacidad de almacenamiento y mejorar el nivel de ventas, así podrá garantizar una estabilidad financiera para brindarle educación universitaria a su hijo y 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.