Maria devoted all her life to caring for her two children and doing housework until difficult situations arose in her family and she realized that she needed to work and contribute to the household expenses. Concerned about the welfare of her children, she decided to sell staple goods in the garage of her home. With much sacrifice and effort, she has managed to get her shop ahead and improve her family’s financial situation. Today, she wishes to stock her business well because the neighbors constantly suggest the sale of new products, which she has not been able to purchase due to economic conditions. For this reason, she has resorted to applying for a loan with the purpose of expanding her offerings. Her greatest desire is to provide her children with the possibility to access higher education and training to become professionals. This is her driving reason to work hard every day.
Doña María toda su vida se dedicó a cuidar de sus dos hijos y a realizar las labores del hogar hasta que por situaciones difíciles en su familia se vio en la necesidad de trabajar y aportar con los gastos de su casa. Preocupada por el bienestar de sus hijos tomó la determinación de comenzar a vender productos de la canasta familiar en el garaje de su casa. Con mucho sacrificio y esfuerzo a logrado sacar su tienda adelante y mejorar la situación económica de su familia. En la actualidad desea poder surtir bien su negocio debido a que los vecinos constantemente le sugieren la venta de nuevos productos, pero por condiciones económicas no ha podido comprarlos. Por esta razón a recurrido a la solicitud de un crédito con el fin de ampliar su oferta.
Su mayor anhelo es brindarles a sus hijos la posibilidad de acceder a la educación superior y formarse como profesionales, motivo que la impulsa a trabajar fuertemente todos los días.
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.