Due to the lack of employment opportunities, Luz Did decided to create her own source of employment. She is 26 years old and lives in the town of El Carmen de Viboral to the west of Antioquia. Her store has been improving little by little thanks to her tenacity and desire to improve. In addition to the income it generates, it gives jobs to two female heads of households, which fills her with satisfaction.
Her great business vision has lead her to dream of a large store where she can provide many more jobs and contribute to the progress of her community. For now, Luz Did continues to work hard to improve her business and improve her quality of life. For now, she needs a loan to make some adjustments to the location of her business.
Debido a la falta de oportunidades laborales, Luz Did de 26 años de edad y oriunda del municipio de El Carmen de Vìboral al oriente de Antioquia decidió crear su propia fuente de empleo, un almacén que ha ido mejorando poco a poco gracias a su tenacidad y ganas de superarse, pues ahora además de obtener sus ingresos genera dos empleos a madres cabeza de hogar, lo que la llena de satisfacción.
Su gran visión empresarial la ha llevado a soñar con un gran almacén en el que pueda generar muchos más empleos y así aportar al progreso de su comunidad. Por ahora, Luz Did continúa trabajando fuertemente para sacar su negocio adelante y mejorar su calidad de vida. Por ahora necesita de un préstamo para realizar algunas adecuaciones locativas en su negocio.
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.