Now she needs to replace some of her work equipment. Maria is seeking a loan as an opportunity to purchase supplies for preparing juices and cooking utensils so that she can perform her work. This will help her continue providing good service to her customers so that she can increase the number of people she serves. In addition, Maria hopes that having more income will enable her children to enjoy better financial stability and to make progress in the future.
De esta manera seguirá ofreciendo a sus clientes una buena atención en su negocio y así cada vez seguirán aumentando la cantidad de clientes que atiende. Además, espera que con mayores ingresos sus hijos puedan gozar de una mejor estabilidad económica que les permita progresar en un futuro.
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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