Sor is very hardworking person. 3 years ago, when her daughter was born, she decided to start selling personal products which could generate income in order to contribute financially with her husband and manage the expenses of their household. Thanks to her business, her daughter has been able to enjoy a better quality of life, and Sor has been overcoming financial difficulties. Seeking to meet the most of her clients’ needs, those that she hasn’t been able to meet due to the lack of capital, Sor is looking for a loan to buy personal products to fill her clients’ orders.
Her dream is to be able to save money to buy her own house.
Sor es una persona muy trabajadora que desde hace 3 años que nació su hija, decidió comenzar a trabajar vendiendo productos de uso personal con lo cual pudiera generar ingresos para aportar económicamente junto con su esposo para el sostenimiento de los gastos de su hogar. Gracias a su negocio su hija ha podido gozar de una mejor calidad de vida y en su hogar han venido superando las grandes dificultades económicas. Buscando responder a los grandes pedidos que tiene de sus clientes, los cuales no ha podido responder por la falta de capital que tiene, Sor busca un préstamo para comprar productos de uso personal y responder a los pedidos de sus clientes.
Su sueño es poder ahorrar dinero para comprarse su casa propia.
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.