Ms. Yanet is 34 years old and the mother of two children, ages 17 and 10. Thanks to the business she has had since 2006 - where she sells merchandise, cell phone minutes, groceries, and beverages - she has managed to get her family ahead. The winter has affected her profits, so with the goal of improving the variety of products offered in her store, Yanet needs to purchase an assortment of products to encourage and improve sales. Yanet's dream is to be able to offer her children an education and to have her own house.
La señora Yanet a sus 34 años de edad es madre de dos hijos de 17 y 10 años de edad, gracias al negocio que tiene desde el año 2006 en el cual vende mercancía, minutos, alimentos y bebidas ha logrado salir adelante con su familia. Con el propósito de mejorar la variedad de los productos ofrecidos en su negocio, la señora Yanet requiere de la compra de surtido con el cual incentive sus ventas y las mejore puesto que el invierno ha afectado sus ingresos. El sueño de la señora Yanet es poder brindarle a sus hijos educación y tener su propia casa.
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.