Luz Amparo is the head of the household and a single mother to three children. To be able to generate income to sustain her costs and those of her children she has a store of personal products. She works hard everyday. In spite of the fact that she started the business with very little capital and very little inventory in the beginning, her efforts have allowed her to get the business ahead and provide her clients each time with a better variety of products.
The biggest challenge that she has is lack of capital. She must trust her clients to pay and some clients are behind in their payments. She does not count on money to continue working. To improve this situation, Luz Amparo is requesting a loan to purchase personal use products and respond to the demand of the clients to supply her business with a better variety of products.
Her dream is to grow the business, improving the sales so that her income will also grow. Also, her dream is that her 3 children will have a better quality of life in their home.
Luz Amparo es madre soltera cabeza de hogar de sus 3 hijos, y para poder generar los ingresos para sostener sus gastos y los de sus hijos tiene una venta de productos de uso personal que trabaja fuertemente todos los días. Pese a que el negocio lo inició con muy bajo capital y muy poco surtido inicial, su esfuerzo le ha permitido ir sacándolo adelante y brindar a sus clientes cada vez mayor variedad de productos. La mayor dificultad que tiene es la falta de capital, pues como para poder bastante debe fiar y algunos clientes se le retrazan en sus pagos, no cuenta con dinero para seguir trabajando. Para mejorar esta situación, Luz Amparo acude a un préstamo para comprar productos de uso personal y responder a los pedidos de sus clientes y surtir su negocio con mayor variedad.
Su sueño es seguir creciendo con este negocio, mejorando las ventas para que sus ingresos también aumenten y sus 3 hijos puedan tener una mejor calidad de vida en su hogar.
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.