Sandra is 27 years old and sells fast food, fritos, mecatos, and drinks. She started this business two years ago, with her husband’s help, in order to increase the household income. Her greatest desire is to set up and stock her shop in order to increase her end of year sales. For this reason she is asking for a loan so that she can make this investment. Sandra dreams of having a great business that will allow her to improve her family’s financial stability and create jobs for others.
Sandra de 27 años de edad, se dedica a la venta de comidas rápidas, fritos, mecatos y bebidas; negocio que inició hace dos años, con la ayuda de su esposo, con el fin de mejorar los ingresos de su hogar. Su mayor deseo es organizar su local y comprar surtido debido a que en la temporada de fin de año sus ventas aumentan, por esta razón se encuentra solicitando un crédito para realizar dicha inversión. Sandra sueña con tener un gran negocio que le permita mejorar la estabilidad económica de su familia y poder generar empleo a otras personas.
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.