Fanny, at 36 years old, is a woman dedicated to her family because she is motivated to spend the majority of her time with her 15-year-old son. She works as a nursing assistant in the hospital in her area, a job she alternates with catalogue sales with the goal of improving the economic conditions of her household. She states that her biggest dream is to start a store selling beauty and personal products so that she has more time for her family. She is requesting a loan that she will invest in the purchase of merchandise, with the goal of improving her earnings and collecting money to get a house.
Fanny de 36 años es una mujer entregada a su familia, motivo que la impulsa a compartir la mayor parte del tiempo con su hijo de 15 años de edad. Labora como auxiliar de enfermería en el hospital de su localidad, actividad que alterna con la venta de productos por catálogo con el fin de mejorar las condiciones económicas de su hogar. Manifiesta que su gran sueño es montar una tienda dedicada a la venta de productos de belleza y aseo personal, con el fin de tener más tiempo para su familia. Se encuentra solicitando un crédito que invertirá en la compra de surtido, con el fin de mejorar sus ingresos y reunir el dinero para acceder a una vivienda.
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.