In order to support her daughters and to survive the separation from her husband, Beatriz Eugenia M. D. found an opportunity in her business that would let her become the head of the household and to overcome their difficulties.
Three years ago this enterprising woman started her clothing and embroidery business with the few savings she had and some personal loans. This is how Beatriz works day after day to support her two daughters.
Beatriz requests a loan to purchase merchandise and to supply her with some articles of clothing that she needs to increase the variety of goods to offer her clients.
Para salir adelante con sus hijas y superar la separación de su esposo, Beatriz Eugenia M. D. encontró en su negocio una oportunidad para convertirse en madre cabeza de hogar y superar las dificultades.
Desde hace 3 años esta emprendedora con sus pocos ahorros y algunos préstamos le dio vida a su negocio de venta de ropa donde además presta servicios de bordado. Es así como Beatriz lucha día a día para sacar a sus dos hijas adelante.
Actualmente Beatriz necesita de un crédito para comprar mercancía y abastecerse de algunas prendas que le hacen falta para ofrecer mayor variedad a sus clientes.
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.