Alba, 40, is a single mother of three underage children. Her spouse abandoned her, so she took full responsibility of the family’s well-being. She is currently living with her mother, who helps her to take care of the children while she makes a living. She started her own business six months ago, which is located in the market square of her village. Alba sells accessories for cell phones, snacks and beverages every day, from 7 am to 5 pm.
Her biggest dream is to make sure her children can go to the university; she wants them to have better job opportunities.
Motivated by her dream, Alba is requesting a loan to buy a refrigerator and supplies for her store, with the intention of increasing her sales and improve her income. This will result in a more stable economic situation for her.
Alba de 40 años, es madre soltera de tres hijos menores de edad. Debido a que su cónyuge la abandonó, se hizo cargo del bienestar de su familia. En la actualidad reside con su madre, la cual le colabora con el cuidado de sus hijos mientras ella labora para ganarse el pan diario. Desde hace 6 meses montó su propio negocio ubicado en la plaza de mercado de su localidad, en donde comercializa accesorios para celular, mecatos y bebidas. Labora diariamente de siete de la mañana a cinco de la tarde.
Su mayor sueño es garantizarles a sus hijos la oportunidad de ingresar a la educación superior, ya que desea que ellos tengan mejores oportunidades en el mundo laboral.
Motivada por su gran deseo, Alba se encuentre solicitando un crédito que destinará para la compra de una nevera y surtido con el propósito de aumentar sus ventas y mejorar sus ingresos, logrando una estabilidad económica.
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.