Mónica has worked in her business of selling ice cream since she had her second child and realized together with her husband that the salary that he earned would not cover the necessary expenses for sustaining the household. Mónica has two children ages 3 and 8 years old, who she has always wanted to offer a good quality of life. Mónica attends to her business of ice cream as much to sales of only 1 unit as for attending to great quantities, as for attending to events, among others. Mónica has the desire to achieve opening a shop where she can offer her products to the public in a more open way and serve them with not only packaged products but also to prepare glasses of ice cream, bananas, etc. Given that a customer has made a large quanitity order of ice cream, Mónica needs to purchase these products from her vendor. However, Mónica doesn't have the sufficient capital for this, which is why she aspires to obtain a loan that provides her the opportunity to agree to the purchase of ice cream in a large quantity to fulfill a client order and pay the first months of rent of a shop where she can set up her sale to the public.
Mónica hopes that in this way her business grows in sales, and she will be more visible for the people that will not come to her business from her house and in this way she will generate the necessary income to sustain her household.
Mónica ha trabajado en su negocio de la venta de helados desde que tuvo su segundo hijo y se dio cuenta junto con su esposo que el salario que ganaba este no alcanzaba para cubrir los gastos necesarios para el sostenimiento de su hogar. Mónica tiene 2 hijos de 3 y 8 años, a quienes siempre les ha querido ofrecer una buena calidad de vida. Mónica atiende su negocio de helados tanto a ventas de 1 sola unidad como para atender grandes cantidades como para atender eventos, entre otros. Mónica tiene el anhelo de conseguir abrir un local donde pueda ofrecer sus productos al público de forma más abierta y atenderlos con productos no solo que vengan empacados sino ella también preparar copas de helado, bananas, entre otros. Dado que un cliente suyo le ha hecho un pedido de una gran cantidad de helados, Mónica requiere comprar estos productos a su proveedor, sin embargo, Mónica no cuenta con el capital suficiente para esto, por lo que aspira a que un préstamo le brinde la oportunidad de acceder a la compra de helados en gran cantidad para atender un pedido de un cliente y a pagar los primeros meses de arriendo del local donde va a montar su venta al público.
Mónica espera que de esta manera su negocio aumente las ventas, pues ya estará más visible para las personas pues no atenderá el negocio desde su casa y así generará los ingresos necesarios para el sostenimiento de su hogar.
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.
A loan of $1,125 helped Monica Chaverra to purchase ice cream in great quantities in order to fulfill an order from a customer and to pay the first months rent of a shop where she is going to set up her sale to the public.