Ayde is a hard-working woman who has always contributed to the household expenses. She has had businesses such as selling products through catalogs, and also selling prepared food. Some time ago she fixed up a chicken coop on the terrace of her house so that she could sell eggs every day.
Now Ayde needs a loan for some improvements to the coop so that she can accommodate more hens to improve her sales.
Ayde es una mujer luchadora que siempre ha contribuido con el cubrimiento de los gastos del hogar, oficios como la venta de productos por catálogo así como de comidas han sido algunos de sus negocios. Desde hace algún tiempo en la terraza de su casa acondicionó un galpón de pollos con el fin de vender diariamente los huevos.
Actualmente Ayde necesita de un préstamo para realizar algunas adecuaciones al galpón y así poder llegar a acomodar más gallinas que le permitan mejorar sus ventas.
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.