Luz Estela is a person who has had to work hard during a large part of her life in order to provide for her family. She is the mother of four children whose father left them some time ago without providing any financial support. Luz Estela must guarantee the income for her whole family in order to make progress and continue enjoying a decent quality of life. She used to work for a cleaning company in the city, sweeping streets, but a decline in her health meant that she had to leave that job and start doing something else. For this reason, she set up her own business approximately four years ago. She mainly sells clothing and, thanks to this, she is able to make enough income to support her household. With the goal of responding to an order that she has received from a customer, Luz Estela would like to take out a loan. This will give her the opportunity to buy the clothing she needs to respond to this big order.
Luz Estela hopes that her income will increase considerably so that she can continue serving her customers and increase her capital. She dreams of her business growing and strengthening so that her income increases and she is able to offer her four children the best education possible and financial stability which will allow them to avoid experiencing as many hardships as she did.
Luz Estela es una persona que le ha tocado trabajar fuertemente durante gran parte de su vida para poder sacar adelante a su familia. Madre de 4 hijos a los cuales su padre los abandonó hace un tiempo sin contribuir con un aporte económico, Luz Estela debe garantizar los ingresos de toda su familia para poder salir adelante y continuar con una calidad de vida digna. Luz Estela anteriormente trabajaba para la empresa de aseo de la ciudad barriendo las calles, pero un deterioro de su salud hizo que tuviera que abandonar este trabajo y dedicarse a una actividad diferente. Es por esto que Luz Estela montó su negocio desde hace aproximadamente 4 años, donde vende principalmente prendas de vestir, y gracias a este puede generar los ingresos suficientes para el sostenimiento de su hogar. Con el ánimo de responder a un pedido que le ha hecho un cliente, Luz Estela aspira a que un préstamo le brinde la oportunidad de acceder a la compra de prendas de vestir para responder a un gran pedido que le ha hecho un cliente suyo.
Luz Estela espera que de esta manera sus ingresos aumenten considerablemente pues podrá seguir atendiendo sus clientes y aumentar su capital. Además, Luz Estela sueña con que su negocio crezca y se consolide, de modo que sus ingresos aumenten y les pueda ofrecer a sus 4 hijos la mejor educación posible y una estabilidad económica que les permita evitar pasar por tantas adversidades como ha pasado ella.
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.