Silvia, who is 27, is a woman who is determined to succeed and provide a better future for her family. She loves in the village of Alto Bonito in Santuario municipality of Colombia and works there along with her husband in the shop which they set up five years ago. The business has enabled them to provide a good education for their six-year-old daughter and to improve their quality of life. Their main difficulty has been in recovering arrears because many of their customers clearly do not have the means to repay their debts and others simply leave and never come back. She dreams of being able to stock her shop and carry out a few repairs on her premises and so she is applying for a loan with which she hopes to fulfil her great desire and offer better service to her clients.
Silvia de 27 años de edad, es una mujer con muchas ganas de salir adelante y ofrecerle a su familia un mejor futuro. Vive en la vereda Alto Bonito, en el municipio de Santuario, Colombia. En donde labora en compañía con su cónyuge la tienda que hace cinco años montaron. Gracias a esta actividad han podido ofrecerle a su hija de seis años de edad una buena educación y mejorar la calidad de vida. Su mayor dificultad ha sido recuperar la cartera en mora, ya que muchos clientes manifiestan no tener los recursos para cancelar las deudas y otros se van y nunca más regresan.
Sueña con poder surtir su negocio y realizar algunos arreglos al local, por lo cual se encuentra solicitando un crédito con el que espera poder cumplir su gran anhelo y ofrecerle a sus clientes un mejor servicio.
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.