Eider Abad has been working as a Beauty Professional for the last three years. He trained at a municipal beauty academy. This work is making it possible for him to support himself and his family.
He works in his living room and his work is being recognized to such a degree that he’s decided to set up his own beauty salon to earn new income and also be able to tend to all his customers. This is why Eider will use the loan to provide all that’s needed to equip his beauty salon.
Desde hace 3 años Eider Abad se desempeña como profesional de la Belleza, el estudió en una academia de belleza del municipio, esta labor le ha permitido tener el sustento diario de él y su familia.
Eider trabaja en la sala de su casa y su trabajo está siendo tan reconocido que ha decido montar su propia sala de belleza y así podrá generar nuevos ingresos además de poder atender a todos sus clientes, es por esto que al tener el crédito Eider tendrá lo necesario para dotar su centro de belleza.
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.