María is 58 years old, the mother of seven children and the head of the household. Ever since she was a child her parents taught her to work. When she was a child, education was not valued as much as it is today. This is why Maria didn't finish primary school. When she grew up she got married and began to have children. A short time later she separated from her husband. Her husband was not helping with the household expenses. For the last fifteen years, she has been selling fruits and vegetables from a cart. This is how she has supported her children. With the earnings from her work she has been able to give her children the opportunity to study. This client is a hardworking woman. She confronts obstacles with strength and decisiveness. This trait helps her find options that help her to move forward. This is why she is requesting this loan. She would like to invest the money in purchasing wholesale carrots, potatoes, peas, plantains and yucca among other items. She would like to sell a greater variety of food so that she can attract more customers. In this way she can meet her customer's diverse tastes and needs. This will also give her the economic capacity to sustain her home. In the near future it will provide them with a better quality of life. It may give her the opportunity to rest.
María a sus 58 años de edad, es madre de 7 hijos y cabeza de hogar. Desde que era una niña sus padres le enseñaron a trabajar, pues en esa época no le daban tanta importancia al estudio, por lo que nunca terminó sus estudios primarios. Cuando cumplió la mayoría de edad, se casó y comenzó a tener hijos, pero pocos años después se separó de su esposo, porque éste no le colaboraba económicamente para solventar los gastos del hogar. Desde hace ya 15 años, comenzó a vender frutas y verduras en una carreta y, de esta manera logró sacar adelante a todos sus hijos y con los ingresos que obtiene les ha dado la oportunidad de estudiar. La cliente es una mujer luchadora, enérgica que enfrenta los obstáculos con fortaleza y decisión, esto la impulsa para buscar opciones que le permitan seguir progresando; por esta razón, solicita el crédito, que desea invertir en la compra de surtido al por mayor (zanahorias, papas, arvejas, plátanos, yuca, entre otros) con la intención de tener una gran variedad de alimentos que le permita atraer más clientes y así satisfacer los diversos gustos y necesidades. Esto le dará la capacidad económica para seguir llevando el sustento a su hogar y en un futuro cercano poder disfrutar de una mejor calidad de vida, que le dé la posibilidad de descansar.
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.