Margarita, at 62 years old, still has the energy to work and earn her living. Four years ago, she opened a small grocery store with a little capital; it is located in the house where she lives. Little by little, she has augmented her inventory and now she is well-known in the area. This is how she generates sufficient income to pay for her basic household expenses.
Margarita works alone every day with the intention of improving her living conditions and having the possibility of buying her own house in the future. In addition, she dreams of expanding her business, which is why she requested the help of this loan.
With the loan, she will buy an assortment of products at wholesale (snacks, cookies, chocolate, dairy products, cold deli meats), which will allow her to offer more variety to her customers to satisfy their different tastes and needs. This will be reflected in an increase in sales and income so that she can enjoy her old age in tranquility, free of worry.
Margarita, a sus 62 años de edad, aún tiene energías para trabajar y conseguir su sustento, desde hace 4 años inició una pequeña tienda de abarrotes con poco capital y la ubicó en la casa donde vive, poco a poco fue aumentando sus inventarios al ser reconocida en el sector, de esta forma genera los recursos suficientes para pagar los gastos básicos del hogar.
Trabaja sola todos los días con el ánimo de mejorar sus condiciones de vida y tener la posibilidad de adquirir una casa propia en un futuro, además sueña con ampliar su negocio, razón por la que solicita el apoyo del crédito con el que comprará surtido al por mayor (mecato, galletería, chocolate, lácteos, carnes frías), esto le permitirá ofrecer más variedad a sus clientes para satisfacer los diversos gustos y necesidades, lo que se reflejará en el incremento de las ventas y sus ingresos para disfrutar una vejez tranquila y sin ninguna preocupación.
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.