Dora is a 46 years old woman with the spirit of an entrepreneur and a fighter. All her life she has worked to take care of her home and ensure the well-being her three children. Three months ago she started a vegetable stand in order to generate more income for her household as her economic condition is currently poor and uncertain due to the fact that her spouse is unemployed at present.
Her primary goal is to stock the vegetable stand and expand the range of products and services she provides for the standard family basket of goods in order to offer her customers better quality and service. This way she will generate a higher volume of sales. For this reason she is requesting a loan which she will use to purchase vegetables, soft drinks, and pastries. She hopes her business will allow her to improve the quality of life in her home, stabilize the financial crisis her family currently faces, and guarantee her youngest child access to higher education.
Dora de 46 años de edad, es una mujer emprendedora y guerrera, toda su vida se ha dedicado a las labores del hogar y a velar por el bienestar de sus tres hijos. Desde hace 3 meses montó una legumbrería con el propósito de generar ingresos para su hogar ya que la condición económica que padecen en la actualidad es incierta debido a que su cónyuge se encuentra sin empleo.
Su mayor sueño es surtir la legumbrería y ampliar el portafolio de servicios con productos de la canasta familiar para ofrecerles a sus clientes una mejor calidad en el servicio, generando un mayor volumen de ventas. Por esta razón se encuentra solicitando un crédito que invertirá en la compra de legumbre, gaseosa y mecatos. Espera que su negocio le permita mejorar la calidad de vida de su hogar, estabilizar la crisis financiera por la que atraviesan y garantizarle a su hijo menor acceso a la educación superior.
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.