Aura has been working selling personal use items for about 25 years now and thanks to this work has been able to contribute economically to her home so that her family can have a better quality of life. She’s married and the mother of two children.
Aura has always tried to offer her two children access to a good quality education which is why she works hard in her business. This has led to her having a large number of customers which has been reflected in the large number of orders she has to fill.
However, because she does not have sufficient capital to meet her customers’ needs, Aura is looking for a loan to buy personal use items to fill her pending customer orders. In this way she will overcome the capital problem and be able to fill all her pending orders thus increasing income and having a better quality of life at home.
Aura lleva aproximadamente 25 años trabajando vendiendo productos de uso personal y es gracias a este trabajo que ha logrado hacer aportes económicos en su hogar para que en su familia puedan tener una mejor calidad de vida. Casada y madre de 2 hijos, Aura siempre se ha preocupado por ofrecerle a sus 2 hijos el acceso a una educación de buena calidad, por esto trabaja fuertemente en su negocio y esto le ha permitido tener una gran cantidad de clientes, lo que se ha visto reflejado en los grandes pedidos que tiene para satisfacer. Sin embargo, debido a que no cuenta con el capital suficiente para satisfacer las necesidades de sus clientes, Aura busca un préstamo para comprar productos de uso personal para responder a los pedidos que han hecho sus clientes.
De esta manera logrará superar la dificultad de capital y logrará responder a los pedidos de sus clientes, aumentando sus ingresos y así tener una mejor calidad de vida en su hogar.
This 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.