At the age of 21, Mary Luz is an indefatigable fighter who works cheerfully to provide a better future for her 11-month-old son. Luckily, she has her parents' support since they help her with the business. She works every day making and selling "buñuelos" (doughnuts), and even though her earnings aren't high Mary Luz dreams about having a great business that is recognized by customers and acquaintances.
Mary Luz is currently in need of a loan to invest in her business. She needs to buy ingredients such as flour, cheese, oil, eggs and other items to make the buñuelos. If she buys larger volumes she can cut costs and increase her income, which will improve her baby's lifestyle.
A sus 21 años de edad Mary Luz es una luchadora incansable, que trabaja con la ilusión de brindarle un mejor futuro a su hijo de 11 meses, y para su fortuna cuenta con el apoyo de su familia que le han ayudado mucho a sacar su negocio adelante, trabaja diariamente en la producción y venta de buñuelos y aunque no son muchas las ganancia Mary Luz sueña con llegar a tener un gran negocio que sea reconocido por sus clientes y allegados.
Actualmente Mary Luz necesita un préstamo para invertirle a su negocio, comprar insumos como harina, queso, aceite, huevos y otros con los cuales se hacen los buñuelos, pues comprando en mayores cantidades las utilidades serán mejores y sus ingresos se incrementaran, mejorando su calidad de vida y la de su bebe.
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.