Edilia Del Socorro
Edilia needs a loan to make a few improvements to her store and purchase a variety of merchandise in bulk so that she can improve her earnings. In the future, she hopes to expand her store in order to improve her quality of life.
Edilia necesita de un préstamo para realizar algunas adecuaciones locativas y comprar mayor variedad de surtido para mejorar sus ingresos. En el futuro espera crecer su tienda para mejorar su calidad de vida.
Important InformationThis 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.
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Success!! The loan was 100% repaid