María Lleraldin, 20, is the mother of a three-year-old son. She provides beauty services like haircuts and manicures. She started this business aiming at earning income necessary to support her son and thanks to knowledge imparted by a girlfriend. Encouraged to maintain and consolidate the clientele she has, María Lleraldin needs to buy beauty products and new work tools in order to provide better service and to consolidate her business.
La joven Maria Lleraldin a sus 20 años es madre de un hijo de tres años de edad, se dedica a la prestación de servicios en belleza como corte de cabello y arreglo de uñas, este negocio inicio con el ánimo de generar los ingresos necesarios para la manutención de su hijo y gracias a los conocimientos que una amiga le brindó. Con el ánimo de mantener y consolidar la clientela que tiene, la señora Maria Lleraldin necesita de la compra de productos de belleza y nuevas herramientas de trabajo con lo cual pueda prestar un mejor servicio y consolidad su negocio.
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.