Luz Mary has run her own general store for many years, which always allowed her to earn enough income for her home. However, because of increased violence in the area, she had to close her business five years ago and began working at other things. Now she's starting up the store again and, with the help of her husband, has been able to overcome the many obstacles that come with starting a business. Thanks to strong sales, and seeking to overcome her lack of access to capital, Luz Mary is seeking a loan to buy a glass showcase and stock her store with daily needs items to meet the demands of her customers. Her dream is to have a bigger and bigger store with more and more items, increasing the variety she can offer. Furthermore, she aims to provide a better quality of life for her family.
Luz Mary ha trabajado en su propia tienda general durante muchos años, y con esto siempre ha generado los ingresos para su hogar. Pero debido a problemas de violencia en la zona, tuvo que cerrar el negocio durante 5 años y comenzó a trabajar en otras actividades. Actualmente está volviendo a sacar la tienda adelante y en compañía de su esposo ha podido ir superando las grandes dificultades que presenta en el negocio. Gracias a que ha podido ir teniendo buenas ventas, y buscando superar la dificultad de capital, Luz Mary busca un préstamo para comprar una vitrina y surtido de productos de la canasta familiar y así responder a la demanda de sus clientes.
Su sueño es tener una tienda cada vez más grande e incluirle cada vez más productos para aumentar la variedad de que ofrece. Además, aspira a poder ofrecerle a su familia 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.