Luz Elena is looking forward to replacing some of her work equipment, so she is seeking a loan as an opportunity to purchase a hair dryer and a professional curling iron. By replacing her equipment, she will be able to provide good service to the customers who visit her beauty salon. By continuing to have a good number of customers and providing them good service, Luz Elena's earnings will continue to increase. She also hopes that her children and her husband will continue experiencing a good quality of life and better financial opportunities to make progress.
De esta manera podrá seguir teniendo una buena cantidad de clientes brindándoles una buena atención en su negocio, y así sus ingresos seguirán aumentando. Además, Luz Elena espera que sus hijos y su esposo puedan seguir teniendo una buena calidad de vida y mejores oportunidades económicas para progresar.
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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