Luisa Fernanda is 18 years old and is full of dreams and with a clear life’s path. She is finishing her bachelor’s degree but she already sees herself as a great entrepreneur. She works hard and loves business, so she sells products via catalog so that she can save up for her university studies. She is asking for this loan so that she can invest in products that will generate income for her. Her grandest dream is to be able to be a great professional and be able to help her mother with the household expenses.
Luisa Fernanda de 18 años de edad, es una joven llena de sueños y con un proyecto de vida claro. Se encuentra terminando su bachillerato, pero desde ya, se visiona como una gran empresaria. Es una luchadora y amante a los negocios, por esto se dedica a la venta de productos por catálogo con el fin de ahorrar para sus estudios universitarios. Por esta razón se encuentra solicitando un crédito el cual invertirá en la compra de productos para generar ingresos. Su mayor sueño es poder ser una gran profesional y poderle colaborar a su madre con las obligaciones del hogar.
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.