Orfa, 60 years old, is a single mother of three children. Because her husband left her, she has been in charge of household expenses and the well-being of her family. For 20 years, she has established and worked in her own business, which is located in the heart of the small town of Puerto Valdivia, Valdivia, Colombia. Here, she offers food and dessert services, mainly for tourists. She works daily from seven in the morning until seven at night.
Her greatest dream is to improve her sales, which is why she is requesting a loan that will be used to buy staple food products. With this, she hopes to increase the amount of food she prepares. Orfa hopes that her sales will grow with this investment, allowing her family to be financially stable.
Orfa de 60 años, es madre soltera de tres hijos. Debido a que su cónyuge la abandonó, se hizo cargo de los gastos del hogar y del bienestar de su familia. Desde hace 20 años montó su propio negocio ubicado en la troncal de corregimiento de Puerto Valdivia, Valdivia, Colombia, en donde ofrece servicio de comida y mecatos, principalmente para turistas. Labora diariamente de siete de la mañana a siete de la noche.
Su mayor sueño es poder mejorar sus ventas y para ello, se encuentra solicitando un crédito que destinará para la compra de productos de la canasta familiar, con el propósito aumentar la preparación de alimentos. Orfa espera que con esta inversión sus ventas mejoren, logrando una estabilidad económica para su 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.