Margarita is 58 years old and is a woman who likes to reinvent her life. She is a housewife but also a businesswoman. Her household obligations don’t allow her to too much time out of the home, so she decided to sell products via catalog. She normally uses the income toward the household expenses and to buy things for herself. She is asking for this loan to buy merchandise because her sales increase during December and she doesn’t want to lose even one single customer.
Margarita de 58 años de edad, es una mujer que le gusta rebuscarse la vida, es ama de casa, pero también una mujer de negocios. Las obligaciones del hogar no le permiten estar mucho tiempo por fuera, por lo cual se ha dedicado a la venta de productos por catálogo, generándole ingresos que destina para los gastos del hogar y para comprar sus cosas personales. Actualmente se encuentra solicitando un crédito para la compra de mercancía, debido a que sus ventas se han aumentan en la temporada de diciembre y no quiere dejar escapar un solo cliente
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.