Luz Edilma started her beauty salon some time ago when her husband abandoned her. She was left as a single mother, being the head of the household for her two children. She did not have any financial support, and she felt the obligation to turn to this business as her source of income.
Despite the little capital that she has, her effort has allowed her to get this business ahead. This is because she has long work days, which allows her to generate more sales.
Looking to overcome the difficulty that her business has with capital, Luz Edilma seeks a loan to buy a shampoo basin for her beauty salon. She will also buy supplies like dyes, treatments, and more in order to give her customers good service.
Her dream is to get this business ahead and to give her children a better quality of life than what they are currently able to have.
Luz Edilma inició su salón de belleza hace un tiempo cuando fue abandonada por su esposo y quedó como madre soltera cabeza de hogar de sus 2 hijos, y ya que no tenía ningún apoyo económico se vio en la obligación de recurrir a este negocio como su fuente de ingresos. Pese al poco capital con el que cuenta, su esfuerzo le ha permitido ir sacando este negocio adelante, ya que trabaja extensas jornadas de trabajo permitiéndole generar más ventas. Buscando superar la dificultad de capital que tiene en su negocio, Luz Edilma busca un préstamo para comprar un lavacabezas para el salón de belleza e insumos como tinturas, tratamientos y otros insumos más para prestar un buen servicio a sus clientes.
Su sueño es sacar adelante este negocio y brindarle a sus hijos una mejor calidad de vida que la que pueden tener actualmente.
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.