Aura is 34 years old. She is married and has a seven-year-old son. She loves her family and considers her family to be the main reason that she fights every day to provide them with a better quality of life.
Due to a difficult economic situation facing her family, this woman decided to open her own business and help her spouse with the household expenses. She opened a small shop which sells basic household products. The store is in her home and has had a high level of demand. It's for this reason that she is asking for a loan to expand her range of products and renovate her business. Her biggest dream is to expand her business to make it into a source of employment in her community.
Aura de 34 años de edad, es casada y tiene un hijo de siete años. Ama su familia y considera que es la razón fundamental por la cual lucha diariamente a fin de brindarle una mejor calidad de vida. Debido a una difícil situación económica por la que atravesó su familia, esta mujer decidió montar su propio negocio y ayudarle a su cónyuge con los gastos del hogar. Abrió una pequeña tienda dedicada a la venta de productos de la canasta familiar en su residencia la cual ha tenido un alto nivel de demanda, razón por la cual se encuentra solicitando un crédito para ampliar su portafolio de productos y realizar mejoras locativas. Su mayor sueño es expandir su negocio y poder convertirse en una fuente de empleo para su municipio.
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.