Even though her business has been in existence for a short time, Beatriz has been able to hire one employee. She hopes that her business continues to grow so that she can create more jobs to those who need them the most. In addition, she dreams that this business generates good income so that her children can enjoy a good quality of life and have access to a high-quality education.
Su negocio, a pesar del corto tiempo de estar montado, ya puede generar un empleo para una persona y espera que su negocio siga creciendo para seguir generando más empleo para los más necesitados. Además, Beatriz sueña con que este negocio le genere unos buenos ingresos con los cuales sus 3 hijos puedan gozar de una buena calidad de vida y el acceso a una educación de mejor calidad.
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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