Maria has managed a general store for approximately 30 years. She offers basic household products, sodas, and snacks. Her store is a source of income by which she is able to maintain the household expenses. Maria and her husband previously managed the business together, but some time ago her husband suffered serious health problems and she was left in charge of looking after the store. Thanks to her business, Maria has been able to provide her three children with a good education and a good quality of life. She is always looking after and growing her business, and now her sales have increased considerably. This loan gives her the opportunity to buy household products, sodas, and snacks so that she can restock her store and continue increasing her sales.
With the help of this loan, Maria's business can continue to grow and her earnings will increase considerably. Her family will be able to enjoy a better quality of life and have better opportunities to make progress.
De esta manera su tienda podrá seguir creciendo y así sus ingresos aumentarán considerablemente, por lo que su familia podrá gozar de una mejor calidad de vida y mejores oportunidades de progreso.
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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