Lyliam Yenny M. comes from a peasant family, but she decided to look for a better future in Medellin. She was then obliged to establish her own activity in order to contribute to the payment of her family expenses, as her husband works in the country every day but what he earns is not enough to provide for their daily needs.
This entrepreneur needs a loan to buy a fridge and a supply of dairy products in order to increase the number of goods she offers and so improve her sales.
Lyliam Yenny M. proveniente de una familia campesina, decidió buscar futuro en Medellín, fue entonces cuando se vio obligada a montar su propio negocio para aportar a cubrir los gastos del hogar, pues su esposo trabaja por días en el campo y con lo que gana no es suficiente para el sustento diario.
Esta emprendedora necesita de un préstamo para comprar una nevera y surtido de lácteos para ampliar su oferta de productos y así incrementar sus ventas.
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.