Update on Sandra39-year-old Sandra is a determined, strong woman. She is married with 2 children, who have succeeded in life thanks to her dedication and hard work. She has been working independently for 15 years, since she wanted to take advantage of some available space in her home. She began renting two rooms. Initially, her customers were carriers who came to load or unload merchandise in the market square area, and then she began providing other services, such as garment repair and food, generating income to support her husband and lessen the financial burden of the household. She later on, managed to fix other rooms to increase her capacity.
She will invest this loan in room repairs (fixing the kitchen, bathrooms and bedroom doors). This will let her have a more comfortable and enjoyable space for her customers, which will allow her to increase her revenue.
Sandra said that her greatest desire is to acquire a store or larger space to expand her steady capacity and have more rooms to provide hosting services and have the ability to stabilize her family finances and improve the quality of life of her whole family.
Desde hace 15 años se dedica a trabajar de manera independiente, pues quiso aprovechar el espacio que tenía disponible en su casa y comenzó a arrendar dos habitaciones, inicialmente sus clientes eran transportadores que llegaban a cargar o descargar mercancía en la plaza de mercado de la zona, luego comenzó a prestar el servicio de arreglo de ropa y alimentación para los huéspedes, así fue generando ingresos para apoyar a su esposo con la carga económica del hogar y además logró adecuar otras habitaciones para tener mayor capacidad.
El crédito que solicita será invertido en unas adecuaciones del espacio (arreglar la cocina, los baños y las puertas de las habitaciones), esto le permitirá tener un espacio más confortable y agradable para sus clientes, lo que se percibirá en el incremento de sus ingresos.
Sandra manifiesta que su mayor anhelo es adquirir un local o una casa más grande para ampliar su capacidad instalada y tener más habitaciones para prestar sus servicios de hospedaje, así tendrá la posibilidad de estabilizar las finanzas familiares y mejorar la calidad de vida de su grupo familiar.
Previous Loan DetailsWithout a lot of capital to start a business that generates good income to pay for her home's expenses, Sandra has looked for a way to start her own manicure business. She has made income with this, which contributes to paying for her home's expenses. She lives with her husband and two children... More from Sandra's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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