At the age of 42, Mrs. Luz Mabel has a 25-year old child and is a manicurist. She works from home and serves her family members, acquaintances, and neighbours. Mrs. Luz Mabel learned this art because of her enjoyment of crafts and decor. In her free time, she makes dolls, baskets, and various crafts. She wants to buy tools such as nail polishes, files, beauty products, body creams, and perfumes. With this investment she will be able to improve her working conditions and increase her income. In the future, Luz Mabel wants to have her own beauty salon and craft workshop.
La señora Luz Mabel a sus 42 años de edad es madre de un hijo de 25 años, se dedica al arreglo de uñas (manicure) a domicilio a sus familiares, conocidos y vecinos. La señora Luz Mabel aprendio este arte gracias a su gusto por las manualidades y la decoración. En sus tiempos libres la señora Luz Mabel elabora muñecas, canastas y diferentes manualidades. La señora Luz Mabel desea comprar herramientas de trabajo como esmaltes, limas, productos de belleza, cremas corporales, y fragancias, con esto la señora Luz Mabel podrá mejorar sus condiciones de trabajo y aumentar sus ingresos. A futuro la señora Luz Mabel desea tener su propia sala de belleza y un taller de manualidades.
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.