Luz Marina has worked hard with the goal of getting her son ahead. Now that she is a single mother she is always looking for ways to generate income for her home so that she can cover personal expenses as well as those of her son. She has worked as a beautician for the past 12 years in her town and 3 years ago she opened a beauty shop. Thanks to this business she has been able to get herself positioned and well-known and earn more than before.
Her dream is that her business grows and that her customers recognize her for the quality of her work. That way she will have more earnings and improve the quality of life for her son.
La señora Luz Marina ha trabajado fuertemente con el ánimo de sacar su hijo adelante. Ya que es madre soltera, siempre se ha buscado la manera de generar ingresos para su hogar para poder pagar los gastos personales y los de su hijo. Desde hace 12 años trabaja como peluquera en su municipio, y desde hace 3 montó su propia sala de belleza, y gracias a esto sus trabajos se han podido posicionar y reconocer mas que antes. Luz Marina sueña con que su negocio crezca y que cada vez sus clientes la reconozcan mas por la calidad de su trabajo, así podrá generar mayores ingresos y mejorar la calidad de vida de su hijo.
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.