Young Marinela, 26, is the mother of 3 children aged 5, 4 and a newborn baby who is 3 months old. She works each day for them, in order to provide for them and support her husband financially. Young Marinela has had a business selling merchandise, such as cosmetic products through a catalog, for 5 years. She started in this line of work with the goal of seeking a better income to support her family. Young Marinela has an established customer base, between the neighbors in her village, relatives and friends from the municipality of Carmen de Viboral, located to the east of Antioquia. In order to recover the merchandise she lost when she had customers who did not pay her, Marinela needs to buy more merchandise to offer to new customers, and in this way improve the well-being of her family and accomplish her goal of having her own store.
La Joven Marinela a sus 26 años de edad es madre de tres hijos de 5 y 4 años de edad y un bebe recién nacido de tres meses, por los cuales trabaja diariamente para conseguir su sustento y apoyar económicamente a su esposo. La Joven Marinela se dedica a la venta de mercancía tal como productos cosméticos por catálogo desde hace cinco años, esta actividad la inicio con el objetivo de buscar mejorar los ingresos para el sustento de su familia, la joven Marinela cuenta con una clientela establecida entre los vecinos de la vereda, familiares y amigos del municipio del Carmen de Viboral localizado al oriente de Antioquia. Con el fin de recuperar la mercancía perdida entre los clientes que no le han pagado, la señora Marinela necesita de la compra de más mercancía que pueda ofrecer a nuevos clientes y así mejorar el bienestar de su familia y cumplir su sueño de 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.