Piedad Yaneth started selling candy under a tarp supported by posts. She works from very early in the morning until quite late at night. However, the business has grown and she needs to buy more variety of candy to start a store where her customers can acquire a larger variety of products.
As her business grows not only does her family’s quality of life improve but also she can sell other varieties of products.
Piedad Yaneth inició su negocio de venta de dulces con un plástico sostenido por unos palos, ella trabaja desde muy temprano en la mañana hasta altas horas de la noche, sin embargo su negocio ha crecido y necesita comprar mas surtido y así iniciar una tienda donde sus clientes pueden adquirir mayor variedad de productos.
Al crecer su negocio no solo mejora la calidad de vida de su familia sino que también puede ofrecer a otras veredas sus productos.
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.