Andrea, 20, is head of the household and mother of a three month old. Because her spouse decided to leave and not take responsibility for his obligations as a father, Andrea had to look for alternatives for income to support her child. Andrea is living with her mother who is currently paying for the household expenses.
A year ago Andrea learned to make footwear, thus she decided to begin with this activity. Today she is asking for a loan that she will invest in the purchase of materials and a manual polisher with the purpose of improving the quality of the production. Her greater dream is to offer her child better living conditions and to move away from all financial shortfalls.
Andrea de 20 años de edad, es madre cabeza de familia de un bebe de tres meses; debido a que su cónyuge decidió marcharse y no responder por su obligación como padre, Andrea debió buscar alternativas de ingresos para el sostenimiento de su hijo y colaborarle a su madre con la que actualmente vive con los gastos del hogar.
Desde hace un año aprendió a fabricar calzado, por lo cual decidió iniciar con esta actividad, hoy se encuentra solicitando un crédito que invertirá en la compra de materiales y una pulidora manual con el fin de mejorar la calidad de la producción. Su mayor sueño es brindarle a su hija mejores condiciones de vida y alejada de todo carencia económica.
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.