Nubia is 45 years old, married, and has three children. Both she and her husband have to work to provide for the family due to financial conditions. She and her husband, along with one of their sons, sell milk products in the local area. She also makes bread and delivers it to stores and self-service markets. She is asking for this loan to buy a grill, a cylinder of gas, and supplies so that she can increase her production.
Her greatest desire it so buy a house so that she can offer her children a decent life.
Nubia de 45 años de edad, es casada y madre de tres hijos. Por la condición económica familiar, los dos deben trabajar para proporcionarle a la familia mejores condiciones de vida. En la actualidad se dedica en conjunto con uno de sus tres hijos a la distribución de productos lácteos en la localidad, actividad que alterna con la fabricación de arepas, las cuales son distribuidas en tiendas y mercados autoservicios. Hoy se encuentra solicitando un crédito que invertirá en la compra de una parrilla, un fogón de gas e insumos, con el propósito de aumentar su producción.
Su mayor deseo es acceder a la compra de una vivienda para ofrecerles a sus hijos una vida digna.
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.