Marta has operated a store on the first floor of her house for one year. Her children help with maintaining the business. At the moment, her business is growing so she wants to have as many products as possible so that she can offer her customers more variety. This will allow the quality of life for herself and her family to improve. In addition, her dream is to have a mini-market with each passing day.
Marta desde hace un año tiene una tienda en le primer piso de su casa y con ayuda de sus hijos ella sostiene su negocio, actualmente su negocio está creciendo y por esto ella quiere tener muchos mas productos para ofrecerle mas variedad a sus clientes, de esta manera su calidad de vida mejorará y la de su familia también, además su sueño de tener un minimercado se acercará cada día más.
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.