Luz is a person who has had to go through the great difficulty of being a single mother and the family head to her 3 year old son. To be able to maintain her home she has a clothing sales business with which she has been able to get her family ahead. The great difficulty of lack of capital has not allowed her to offer a better variety of products to her customers and this has delayed the improvements of her sales. Looking to improve this situation Luz hopes that a loan will allow her to buy a range of clothing in order to increase the variety of items she offers to her customers and so increase her sales.
Her dream is to be able to get her business ahead and offer her son a good quality of life and everything he needs.
Luz es una persona que ha tenido que atravesar la gran dificultad de ser madre soltera cabeza de hogar de su hijo de 3 años de edad y para poder sostener su hogar tiene un negocio de venta de ropa con el cual ha podido sacar su hogar adelante. La gran dificultad de capital que tiene no le ha permitido poder ofrecer una mejor variedad de productos a sus clientes y esto ha retrazado que sus ventas mejoren, por esto buscando mejorar esta situación Luz aspira a que un préstamo le permita comprar surtido de ropa para aumentar la variedad de prendas que ofrece a sus clientes y así aumentar sus ventas.
Su sueño es poder sacar adelante este negocio y que le permita brindar a su hijo una buena calidad de vida y todo lo que necesita.
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.