Update on Maria LigiaMaría, 50, has had a grocery store for twenty years. She says that she opened the store thanks to some savings that her husband left her when he died. Thanks to this business, she has been able to pay for her children’s education and has given them a better quality of life.
Her biggest challenge is to improve her business and increase her sales. This is why she is requesting a loan to invest in buying different supplies that her customers regularly buy. María hopes to increase her sales so that she can give her family a stable economic condition. She dreams of a life for her family without worries or shortages.
Su mayor reto es poder mejorar su negocio e incrementar su nivel de ventas, por lo cual, se encuentra solicitando un crédito que invertirá en la compra de surtido que le solicitan con frecuencia sus clientes. Espera que sus ventas mejoren para garantizarle a su familia una condición económica estable.
Sueña con poder disfrutar de una vida tranquila y sin carencias económicas.
Previous Loan DetailsMaria is married and has a 14 year old daughter. Because of the income that her husband was generating, there wasn't enough money to cover the household expenses, so she decided to start her own business and make the effort to have more income to contribute to improving their quality of life. S... More from Maria Ligia's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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