Alba Luz is 53 years old. She has gone through some very painful situations in her life. She suffered through the death of her parents, which was the most difficult thing. Because of this, she needed to move to the city seeking better ways to make a living. That is how she began to make and sell lunches.Thanks to her efforts, today she has a business that supports her daily. Right now, she needs to buy a refrigerator and liquor to sell in her business. That is why she is asking for a loan to make that investment, since she lacks the resources. Her biggest wish is for her income to increase and to improve her quality of life.
Alba luz, de 53 años de edad, ha pasado por situaciones bastante dolorosas en su vida, soportar la muerte de sus padres ha sido el suceso más difícil. Debido a esto ella se ve en la necesidad de migrar a la ciudad en búsqueda mejores alternativas de vida. Allí se dedica a la elaboración y venta de almuerzos. Gracias a su pujanza hoy cuenta con un negocio que le brinda el sustento diario. En la actualidad ella tiene la necesidad de comprar un enfriador y licor para vender en su negocio, por esto se encuentra solicitando un préstamo para realizar dicha inversión ya que carece de recursos propios. Su mayor anhelo es que sus ingresos aumenten y mejore su 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.