Maria has been working for several years in the business of sale of personal use products and in this way she supports her her home, helping to improve her family's quality of live. Thanks to the sales of her business, her husband and children have been able to overcome great economic difficulties in her household and they have been able to get ahead. Currently, Maria has many orders from her customers, but doesn't have sufficient capital to respond to all of them. She is seeking a loan to buy personal use products and respond to the orders that her customers have.
Her dream is to help this business get ahead and improve the income that she has for her home so that her husband and children can have a better quality of life.
Maria lleva varios años con el negocio de la venta de productos de uso personal y así aporta económicamente en su hogar para mejorar la calidad de vida. Gracias a las ventas de su negocio su esposo y sus hijos han podido superar grandes dificultades económicas del hogar y así poco a poco han ido saliendo adelante. En el momento Maria tiene una gran cantidad de pedidos por parte de sus clientes, y como no cuenta con el capital suficiente para responder por ellos, busca un préstamo para comprar productos de uso personal y responder a los pedidos que tiene de sus clientes.
Su sueño es poder sacar este negocio adelante y mejorar los ingresos que tiene en su hogar para que su esposo y sus hijos tengan 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.