Leidy Diana A. has owned a hairdressing salon for one year. She set up the business so that she could become a small businesswoman and put into practice all the skills that she learned in an institute where they teach beauty techniques, in the city of Medellín.
It has been very satisfying for Leidy to go from being an employee to becoming her own boss and managing her hours according to her needs. This enterprising woman dreams of being able to hire two more people to work in her business and she needs capital to buy better supplies and pay off some debts that her hairdressing salon has created. In this way, she will be able to better manage her finances and create job opportunities for other people.
Leidy Diana A. trabaja hace un año como propietaria de una peluquería la cual montó con el fin de convertirse en microempresaria y además para poner en práctica todos los conocimientos adquiridos en una institución para el aprendizaje de técnicas de belleza, en la ciudad de Medellín.
Para Leidy es muy satisfactorio haber pasado de empleada a convertirse en su propio jefe y manejar sus horarios de acuerdo a sus necesidades. Esta mujer emprendedora sueña con poder vincular a 2 personas más a su negocio y requiere capital para comprar mejores insumos y pagar algunas deudas que la peluquería le ha generado, así podrá tener mejor manejo de su economía y abrirles las oportunidades de empleo a otras personas.
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.