Three years ago, Diana Marcela started working in cell phone repair. Her spouse taught her this work as he has been working in this area for a long time. In their region, there are very few places where cell phone repair is available, which is why Diana needs to buy an electric generator and parts to expand her business and offer better service to customers.
Upon expanding her business, Diana will improve her economic status and may also start saving money for college, as that is her big dream.
Desde hace 3 años Diana Marcela se dedica a la reparación de celulares, esta labor se la enseñó su esposo que se ha dedicado a esta labor por mucho tiempo. El la región hay muy pocos lugares donde se puede hacer la reparaciones de celulares, es por esto que Diana necesita comprar una planta eléctrica y repuestos para poder ampliar su negocio y ofrecerle mejor servicio a los clientes.
Al ampliar su negocio Diana mejorará su condición económica y además podrá reunión dinero para iniciar sus estudios universitarios ya que es su gran sueño.
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.