Luz has always been a very hard worker and this has allowed her to get ahead in life in spite of having encountered great adversity. Ever since she was very young she learned the art of craft making and helped out her parents by selling her crafts, so that they could enjoy a better quality of life at home. This has been her source of income ever since, and thanks to the good quality of her products she receives many orders from her customers. Since the time of year when her sales increase substantially is approaching, Luz is requesting a loan in order to purchase supplies and raw material to make her crafts.
Her greatest dream is being able to get ahead and overcome the financial problems which have come up at home, as well as being able to offer her family a better standard of living and the best conditions possible so that they can advance in life.
Luz es una persona que siempre se ha caracterizado por ser muy trabajadora y esto le ha permitido salir adelante en la vida a pesar de las grandes adversidades que se le han presentado. Desde muy joven aprendió la actividad de la elaboración de artesanías y vendiendo estas apoyaba a sus padres para que pudieran gozar de una mejor calidad de vida en el hogar. Desde entonces, esta ha sido su fuente de ingresos y gracias a la buena calidad de sus productos tiene muy buenos pedidos por parte de sus clientes. Debido a que se acerca la temporada donde sus ventas aumentan considerablemente, Luz busca un préstamo para comprar insumos y materias primas para la elaboración de las artesanías.
Su mayor sueño es lograr salir adelante y superar las dificultades económicas que se están presentando en su hogar, además de poder ofrecer una mejor calidad de vida en su familia y las mejores condiciones posibles para poder progresar.
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.