María, who is 57, is single and the mother of a 14-year-old boy. Due to her financial situation, she was forced to look for a source of income so as to give her son a good education. Being a creative person, she set up a business in her home, where she offers internet access and sells stationery and sweets. Thanks to this venture her quality of life has improved and she now wants the business to continue to grow and become a source of employment for others. She is, therefore, seeking a loan which she will use to purchase stock and maintain her computer equipment so as to increase her sales and improve her service. Her biggest challenge has been being both mother and father, but she is thankful to God for giving her her son, who is her greatest blessing.
María de 57 años, es madre soltera de un joven de 14 años de edad, su condición económica la obligó a buscar una fuente de ingresos para ofrecerle a su hijo una buena educación. Su creatividad la llevó a montar un negocio en su vivienda, en donde presta el servicio de internet, venta de papelería y dulces.
Con esta actividad su calidad de vida ha mejorado, desea que su negocio siga creciendo y poder convertirlo en una fuente de empleo para otras personas. Por esta razón se encuentra solicitando un crédito que invertirá en la compra de surtido y mantenimiento de los quipos de computo con el fin de aumentar sus ventas y mejorar el servicio.
Su mayor reto ha sido ser padre y madre al mismo tiempo, pero agradece a Dios por haberle regalado a su hijo, el cual es su mayor bendición.
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.