Martha, a 58 year old woman, works taking care of the house and looking after the welfare of her family. After her son grew up, she decided to work selling flowers in her municipality in order to improve her household income.
As the activity has grown, the quality of life of her family has improved and she wants to expand her business making it a family micro-enterprise. This is why she is asking for a loan to use to buy flowers and fitting out a facility.
She hopes to continue to grow the business and to become a source of employment, helping women who are heads of households.
Martha es una mujer de 58 años, quien se dedicó a las labores del hogar y a velar por el bienestar de su familia. Después de que su hijo creció, ella decidió dedicarse a la comercialización de flores en su municipio con el propósito de mejorar los ingresos en su hogar. Con el desarrollo de la actividad, ha mejorado las condiciones de vida de su familia y desea poder expandir su negocio para convertirlo en una microempresa familiar. Por esta razón se encuentra solicitando un crédito que destinará para la compra de flores y la adecuación del local. Espera seguir creciendo con su actividad y convertirse en una fuente de empleo, ayudando a mujeres cabeza de familia.
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.