Yolanda, 61, is a great merchant who has dedicated her whole life to this trade. She currently works from 9 a.m. until 6 p.m. from her home or wherever her customers require. Yolanda is single, so she must work to earn money and be self sufficient. She is requesting the loan to purchase supplies to fulfill her customers' orders for the end of the year. Her dream is to have her own warehouse.
La señora Yolanda a sus 61 años es una gran comerciante quien se ha dedicado toda su vida a esta labor, actualmente labora desde las 9:00 a.m hasta las 6:00 p.m desde su casa o de acuerdo a los requerimientos de sus clientes. La señora Yolanda es una persona sola por lo cual debe trabajar para conseguir los ingresos para su propio sustento. La señora Yolanda requiere de la compra de mercancía para cumplir con los pedidos que sus clientes le han hecho para esta temporada de fin de año. El sueño de la señora Yolanda es tener su propio almacén.
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.