Verónica has tremendous sales skills and knows how to exploit her talents well. For seven years she has been in the business of selling clothing, which has allowed her to generate an income for her mother and herself, and paid for her education. At her young age she has a million dreams she hopes to realize through hard work. One of them is to open her own shop, but for the time being she only wants to buy merchandise for this season. Therefore, she is requesting a loan to start selling merchandise.
Verónica es una mujer con muchas habilidades para el comercio, y bien que ha sabido explotar su talento. Desde hace 7 años se dedica a la venta de ropa, actividad que le ha permitido generar ingresos para ella y su madre, y le ha dado la oportunidad de estudiar. A su corta edad ella tiene millones de sueños que esperan hacerse realidad con el esfuerzo de su trabajo, uno de ellos es montar su propio almacén, pero por el momento sólo busca comprar más surtido para esta temporada, por lo cual ha solicitado un préstamo y comenzar con la venta de mercancía.
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.