Judy is 23 years old and her business is selling clothing and beauty products. She learned this business when she worked seasonally in different stores. As she needed to make income with which to support herself and cover her education expenses, Judy decided to start selling merchandise such as clothing to which she later added beauty products.
Judy needs to buy shelving so that she can display her products (beauty products and clothes). This will allow her to have enough stock to meet demand during the end-of-year season when Judy hopes that her sales will increase. Judy's short-term dream and goal is to finish her studies (she is training to become a draughtswoman). She would also like to consolidate her business by setting up sales premises.
La señora Judy a sus 23 años de edad, se dedica a la venta de ropa y productos de belleza. La señora Judy aprendió esta actividad cuando trabajó en almacenes por temporadas, debido a la necesidad de ingresos para su manutención y gastos de estudio, la señora Judy decidió iniciar con la venta de mercancía como prendas de vestir y posteriormente incluyo productos de belleza. La señora Judy necesita comprar una estantería para exhibir sus productos, surtido de productos de belleza y ropa. Lo anterior le permitirá tener suficiente inventario para suplir la temporada de fin de año, con lo que espera la señora Judy sus ventas incrementen. El sueño de la señora Judy a corto plazo y como meta es terminar sus estudios como delineante de arquitectura y consolidar su actividad con el montaje de un local.
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.