Julieth lives in the town of Caldas, Antioquia Department, with her spouse; they have a one-year-old son. Julieth is a young entrepreneur who decided five months ago that besides being a housewife she wanted to contribute to the household economy and decided to start selling merchandise, especially clothes and accessories.
Julieth dreams with opening her own variety store in the town of Carepa and despite the difficulty in getting merchandise that she has to go all the way to Medellín to get she struggles to acquire the capital she needs to make her dream come true.
At present, she requested a loan to buy more products before the Christmas season arrives because during that time the trip to Medellín is even more difficult and things there are more expensive because of the season. In addition, Julieth is sure that sales in her town will be larger and her income will improve.
Julieth vive en el municipio de Caldas en el departamento de Antioquia, con su pareja y tienen 1 hijo de dos años de edad. Julieth es una joven emprendedora, la cual desde hace 5 meses decidió que aparte de ser ama de casa, quería colaborar con la economía del hogar y se dedico a vender mercancía en especial Ropa y accesorios.
Julieth sueña con montar su propio almacén de Variedades en el municipio de Carepa y pese a las dificultades para conseguir la mercancía, ya que les toca viajar hasta Medellín a conseguirla, ella lucha por adquirir el capital para hacer su sueño realidad. Actualmente solicitó un préstamo para comprar más productos, antes de que llegue la temporada navideña, ya que en esta época se dificulta mas el viaje hasta Medellín y las cosas allí son mas costosas por temporada, además de esto, Julieth asegura que las ventas en su municipio serán mayores y mejoran sus ingresos.
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.