Yuri is a single mother with a 15-month-old child. Her work as a mother and homemaker has not allowed her to seek stable employment. This is why she is selling sweets in her home, setting up her new business project in her small living room. Yuri believes that by being located on a main walkway and not having competition nearby, her business will bring her good results. But her big problem is the lack of resources to invest in her store. This is why she is applying for a loan, with which she will buy stock and make some improvements. Her greatest dream is to see her son grow and be able to offer him a better quality of life.
Yuri es madre soltera de un pequeño de 15 meses. Su labor como madre y ama de casa no le ha permitido buscar un empleo estable, por lo que ha recurrido vender dulces en su casa, ubicando es su pequeña sala su nuevo proyecto de negocio. Yuri cree que por vivir en una vereda y no tener competencia cercana, su negocio le dará buenos resultados, pero su gran inconveniente es la falta de recursos para invertir en su tienda, por lo cual solicita un préstamo con el que comprará surtido y realizará unas adecuaciones al mismo. Su mayor sueño es ver crecer a su hijo y poderle ofrecer 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.