Laura has had a restaurant for the past 10 years, which has been her source of income for supporting her 4 children. She used to live with her husband in the city of Medellín, but since he died and she became a single mother and head of household, she needed to move back to the town where she was born and where her parents live. They help her take care of her 4 children. With the restaurant she has been able to overcome the difficulties that have presented themselves since the death of her husband, and that is why she works hard to make it a success. She has some difficulties with capital, but her sales are going well. Laura needs a loan to buy an industrial stove so that she can make enough to sell in her restaurant.
Her dream is to have a better business so she can offer her family a better quality of life and better economic opportunities so they can get ahead.
Laura tiene hace unos 10 años su restaurante con el que genera los ingresos para el sostenimiento de sus 4 hijos. Anteriormente vivía con su esposo en la cuidad de Medellín, pero desde que murió y quedó como madre soltera cabeza de hogar se vio en la obligación de mudarse para su municipio natal donde viven sus padres y allí le ayudan con el cuidado de sus 4 hijos. Con su restaurante ha podido ir superando las grandes dificultades que se le han presentado luego de la muerte de su esposo y por esto sigue trabajando fuertemente para sacarlo adelante. Como tiene dificultades de capital, pero le está yendo bien en ventas, Laura requiere un préstamo para comprar un fogón industrial y así satisfacer las ventas de su restaurante.
Su sueño es tener un mejor negocio poder ofrecer a su familia una mejor calidad de vida y mayores oportunidades económicas para progresar.
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.