Eliana is 38 years old, and nothing is too big for her. Being a housewife has not stopped her from becoming a micro-entrepreneur. She makes ice cream treats from home, and later her husband distributes them in various parts of the city. She also runs a small shop herself out of their home. This business started in order to generate income during a time when her husband was unable to find work. Her greatest dream is to have her own ice cream shop, and as a step in that direction she is requesting a loan that will allow them to purchase the necessary raw material for making her ice cream treats.
Eliana de 38 años de edad, no le queda grande nada, el ser ama de casa no ha sido impedimento para convertirse en una microempresaria, elabora helados en su casa y su esposo los distribuye por diferentes sectores de la ciudad, además cuenta con un punto de venta en la sala de su casa que ella misma atiende. Esta actividad surgió debido a la necesidad económica a la que se vieron afrontados cuando su esposo se quedó sin empleo. Su mayor sueño es poder tener una heladería y para ello solicitan un crédito que les permita comprar la materia prima para la elaboración de sus helados.
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.