Ana is a single mother of 4 children who lives in a rural area in another department. Because of the fluctuating economy in her region, she has had the opportunity to start her own business selling pizzas. Ana dreams of expanding her business and buying a cooler to sell sodas to offer a more comprehensive service to her loyal customers. The loan money will be invested in the cooler and the necessary ingredients for the preparation of pizza (sauce, cheese, dough, etc.) with the idea to increase sales not only in her business but to also provide a delivery service to generate more income and improve her family situation in general.
Ana es una madre soltera, tiene 4 hijos, vive en zona rural de otro departamento, en vista de la economía fluctuante de su región, ella tuvo la oportunidad de iniciar su propio negocio de venta de pizzas. Ana sueña con ampliar su negocio, comprar un enfriador para vender gaseosas y ofrecer un servicio integral a su fiel clientela, el dinero del crédito será invertido en el enfriador y los insumos necesarios para la elaboración de las pizzas (salsa, quesos, masas, etc), con el ideal de aumentar sus ventas no sólo en el negocio, sino prestar el servicio a domicilio, para generar mayores ingresos económicos y solventar la situación familiar en general.
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.