Marta Luica is 30 years old and does catalog shoe sales. This allows her to generate her own income so that she can provide an education and see to the well-being of her seven year old son. Marta Luica now wants to buy merchandise, such as shoes, and men’s and women’s clothing, in order to diversify her business and increase her income, so that she can offer her son a good quality of life and care for his well-being.
La señora Marta Lucia a sus 30 años de edad, se dedica a la venta de calzado por catálogo para con esta labor conseguir sus propios ingresos y brindarle a su hijo de 7 años la educación y bienestar que él necesita. Actualmente la señora Marta Lucia desea comprar mercancía para la venta como calzado y prendas de vestir para dama y caballero con el fin de diversificar su negocio y conseguir mayores ingresos para brindarle a su hijo una buena calidad de vida y bienestar.
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.