Liliana is a mother of three children and is the head of her family. She is a woman with a lot of challenges in her life. Her dream was to always be a stylist and with a lot of effort, she has achieved it.
Today she has a new wish: to be able to open her own business. Currently, she is working from her home. She has a clear idea of how to start her business as a medium-term project, but for now, she will continue working as she has been.
Her biggest challenge is the economic factor, since she has multiple obligations. She has still not been able to get the tools she needs to offer high-quality service. For this reason, she is asking for a loan, which she will use to buy a professional hair straightener and chemical treatment supplies to provide her services.
Liliana es madre de tres hijos y cabeza de familia. Es una mujer con grandes retos en la vida. Su sueño siempre fue ser estilista y con mucho esfuerzo logró cumplirlo. Hoy tiene un nuevo deseo, poder montar su propio negocio ya que en la actualidad se encuentra laborando a domicilio. Tiene claro que la idea de negocio en un proyecto a mediano plazo y que por ahora seguirá trabajando como lo viene haciendo. Su mayor dificultad es el factor económico debido a las múltiples obligaciones que tiene. Aún no ha logrado conseguir las herramientas para ofrecer un servicio de calidad, por esta razón se encuentra solicitando un crédito con el que comprará una plancha profesional e insumos químicos para prestar sus servicios.
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.