Thanks to the good service she offers in her hostel and restaurant, Silvia’s inventory level in her restaurant has greatly diminished. For this reason, she wants to buy cafeteria and restaurant products so that she can provide high-quality service to her customers. However, Silvia does not have the capital to make these purchases. She is hopeful that a loan will give her the opportunity to purchases cafe products such as coffee, sugar, and other items. In addition, she will buy restaurant supplies such as vegetables, legumes, and other items so that her customers can have a wide variety of products.
Silvia hopes that her business continues to grow so that she can generate income to maintain the household expenses. In addition, she hopes that her two children will have access to a quality education and have financial stability in the future.
Silvia espera que su negocio siga creciendo para que le genere ingresos con los cuales pueda seguir sosteniendo los gastos de su hogar. Además, espera que sus 2 hijos puedan acceder a una educación de calidad y en un futuro puedan gozar de una estabilidad económica.
Important InformationThis 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.
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