As a result of this loan, Sandy will be able to serve her entire market and her monthly sales will increase considerably. In addition, she will gradually fulfill her dream of having a successful business to ensure her economic future. This will allow her to provide her parents with a good quality of life and more economic opportunities.
De esta manera, Sandy podrá atender todo el mercado y así sus ventas mensuales aumentarán considerablemente. Además, poco a poco irá cumpliendo su sueño de tener un gran negocio con el cual pueda asegurar un futuro económico y con el cual pueda ofrecer a sus padres una buena calidad de vida y mayores oportunidades económicas.
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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Success!! The loan was 100% repaid