Luz Amparo has had a general store for two years. She generates income to contribute financially to the household, so her husband and two children, ages 13 and 16, can have a better quality of life.
When she began, the general store was located in the rural area of town, but a year ago she moved it to her house to be able to take care of her two children while she tends to her business. Thanks to this move she also has seen her sales increase.
She doesn't have sufficient capital to respond to customer demand, though, so Luz Amparo wants a loan to buy products from the family shopping basket that she has run out of.
Her dream is to expand her business so her income improves considerably and she has better economic conditions for getting her household ahead.
Luz Amparo tiene desde hace 2 años una tienda general con la que genera ingresos para contribuir económicamente en su hogar y así poder que su esposo y sus 2 hijos de 13 y 16 años de edad puedan tener una mejor calidad de vida. Cuando comenzó, la tienda general estaba ubicada en la zona rural de su municipio, pero desde hace 1 año la ha trasladado para su casa en busca de estar al cuidado de sus 2 hijos mientras atiende el negocio. Gracias a este traslado también ha podido ver como sus ventas se incrementan, sin embargo, como no cuenta con un capital suficiente para responder ante los clientes, Luz Amparo busca un préstamo que le permita comprar productos de la canasta familiar que se le han ido agotando.
Su sueño es ampliar el negocio para que así sus ingresos mejoren considerablemente, de modo que en su hogar puedan tener mejores condiciones económicas para salir adelante.
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.