Luz Dary works selling jeans, shirts, and ladies and men's underwear out of her need to generate her own income and pay for her three children's education. Luz Dary trusts that she will be able to get much more merchandise with the loan, and will be able to increase her earnings and improve her living conditions and those of her children.
She dreams of having her own premises where she can sell merchandise on her own sidewalk, and where possible, to be able to go to the nearby towns to do bigger business with some of the stores that purchase cheap merchandise, and in this way grow her income.
Dedicada a la venta de mercancía tal como jeans, camisetas y ropa interior para dama y caballero, por su necesidad de generar sus propios ingresos y darle estudio a sus tres hijos, Luz Dary confía en que consiguiendo mucha más mercancía con el crédito obtenido podrá ampliar sus ganancias y mejorar su condición de vida y la de sus hijos.
Sueña con tener su propio local para vender mercancía en su vereda y en lo posible poder ir a los municipios cercanos para hacer negocios más grandes con algunos almacenes que compren la mercancía más barata y así aumentar 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.