Update on Martha NellyMartha is 55 years old, and is the mother of three children, who she has gotten ahead with a lot of effort and dedication. She is now the head of the household as she separated from her husband many years ago. During 14 years of her career, she has worked as an independent businesswoman, selling children's clothing in a small outpost located in the center of the city. There, she works alone everyday from 9am to 6pm, which allows her to earn an income to cover her family's expenses.
The requested loan will be used to purchase an assortment of children's clothing in bulk (shirts, pants, jackets). This will allow her to offer a greater variety to her customers, and therefore increase her sales and earnings. Martha states that her greatest desire is to continue to work hard so that she can have financial stability that will allow her to enjoy better living conditions and wellness, and to spend her old age with dignity and tranquility.
Durante 14 años de su vida productiva, se ha dedicado a trabajar como comerciante independiente, vendiendo ropa infantil en un pequeño puesto ubicado en el centro de la ciudad, allí trabaja sola todos los días de 9 am a 6 pm y así logra generar los recursos para solventar los gastos familiares.
El crédito solicitado será destinado a la compra de surtido al por mayor de ropa infantil (camisetas, pantalones, chaquetas), esto le permitirá ofrecer mayor variedad a sus clientes y así aumentar las ventas e ingresos.
Martha manifiesta que su mayor anhelo es seguir trabajando arduamente para tener una estabilidad económica que le permita disfrutar mejores condiciones de vida y bienestar, y tener una vejez digna y tranquila.
Previous Loan DetailsMartha is 57 years old. Her largest motivation in life is to give her son a bright future. Even though she could not study, she learned how to read and write, which has helped her become a great saleswoman. She sells clothes for children every day, 9 am to 7 pm, in the streets of the city’s… More from Martha Nelly'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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