In the future, Doris hopes to have her own space that is separate from her house so that she can have a true restaurant. She currently needs a loan to buy a refrigerator, supplies, and a few utensils that will be put to great use as she prepares food.
En el futuro, Doris espera tener su propio local independiente de su casa para tener un verdadero restaurante. Actualmente necesita de un préstamo para comprar una nevera, insumos y algunos utensilios que le serán de gran utilidad para la elaboración de los alimentos.
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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