52-year-old Blanca is a hard-working woman. Her husband died several years ago, leaving her alone and responsible for their four children. However, this was never an obstacle to her setting up her own business. Thanks to her cooking experience, some years ago she set herself up in premises where she sold meals, fried food, soda, juices, etc. However, for convenience reasons as well as to lower her costs, she handed the premises back and continued her micro-business from her home where she sells the same products.
Blanca currently needs a loan to buy a deep-fat fryer so that she can grow her business and thereby increase her sales and income. This will enable her to improve her quality of life and make some savings with the goal of owning her own premises in the future where she can sell all types of food from different parts of the world.
A sus 52 años de edad, Blanca es una mujer trabajadora, hace ya varios años su esposo murió quedando ella sola con la responsabilidad de sus 4 hijos, pero esto nunca fue impedimento para crear su propia empresa; Gracias a su experiencia en temas de cocina, hace algunos años empezó un local donde vendía comidas, fritas, gaseosas, jugos entre otros, pero por cuestiones de comodidad y ahorrar costos, lo entregó y continuó su microempresa en su casa donde vende los mismo productos.
Actualmente necesita un crédito, para comprar una fritadota y poder crecer su negocio y por consiguiente aumentar sus ventas y sus ingresos, para mejorar su calidad de vida y realizar un ahorro con la idea de en un futuro poder tener un local propio donde vender todo tipo de comidas de varias partes del mundo.
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.