Luz Marina after being left a widow two years ago decided to start a business that would help her overcome her great sorrow and generate her own income to support herself. This is why she decided to start selling men's and women's clothing on credit to family, acquaintances, and friends from her home. She is currently experiencing economic hardship and is in need of capital to be able to buy merchandise. This will improve her sales and in that way improve her quality of life and help her meet outstanding obligations that she has. Luz Marina's dream is to have her own clothing store.
La señora Luz Marina luego de quedar viuda hace dos años decidió iniciar con una actividad con la cual pudiera superar este gran duelo y generar sus propios ingresos para su sostenimiento, es así como decide iniciar desde su casa la venta a crédito de ropa para dama y caballero a familiares, conocidos y amigos. Actualmente pasa por dificultades económicas por lo que requiere de capital con el cual pueda comprar surtido y así mejor sus ventas y poder incrementar su calidad de vida y cumplir con las obligaciones pendientes que tiene. El sueño de la señora Luz Marina es tener su propio almacén de ropa.
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.