Since that time, she has been able to support her family. Her sales allow her to contribute toward the household expenses. At the moment, María needs a loan to buy a deep fryer, a cooler, and some basic supplies used in preparing her products. This will allow her to be more efficient in her work so that she can improve the quality of her dishes and increase her sales.
Desde entonces este ha sido un apoyo para la familia, pues sus ventas contribuyen a cubrir los gastos del hogar. Actualmente, necesita de un préstamo para comprar una fritadora, una nevera y algunos insumos básicos para elaborar sus productos, lo que le permitirá agilzar los procesos, realizar mayor cantidad de productos y así mejorar sus ventas.
Important InformationThis 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.
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