A few months ago, Margarita started her own business selling clothing through catalogs. She did so because saw that she needed to contribute financially at home, along with her husband in order to provide a good quality of life to their five children. Initially, she had very little capital and it was very difficult for her to start up, but thanks to her hard work, she has been able to go little by little taking her business forward. In this way, she has been able to offer her family a better quality of life.
In order to fill some large orders her customers have placed, ones that she could not fill previously due to a lack of capital, Margarita is requesting a loan to buy clothes and respond to these large orders. Her dream is to have a store where her business will be better positioned and she can sell more so that she generates income that affords her a better quality of life.
Margarita inició hace unos meses con su negocio de venta de ropa a través de catálogos debido a que veía la necesidad de colaborar económicamente en su hogar junto con su esposo para poder sostener a sus 5 hijos y brindarles una buena calidad de vida. Inicialmente tenía muy poco capital y esto le dificultó mucho comenzar con la actividad, pero gracias a su esfuerzo ha podido ir poco a poco sacando adelante este negocio y así ha podido ofrecerle a su familia a su familia una mejor calida de vida. Para satisfacer unos grandes pedidos que tiene de los clientes los cuales no ha podido responder por falta de capital, Margarita busca un préstamo para comprar ropa y responder a los grandes pedidos que tiene por parte de sus clientes.
Su sueño es tener un almacén donde pueda tener su negocio más posicionado y así vender más, de modo que genere ingresos que le permitan tener una mejor calidad de vida.
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.