Catalina, 32, is known for being a tenacious and resourceful woman. She is able to see, even in a difficult situation, great opportunities. She started her business with a loan that was provided to her. With this sum of money, she started up a store so that she could cover the household expenses and support her 13 year-old daughter. She still has this store, and she wants to invest in it. This is the reason why she is requesting a loan. She will use the loan to stock up the store and pay off some overdue bills. Catalina's main wish is to be able to grow her small business and convert it into a big grocery store. She hopes that her financial situation will improve, and that she will be able to provide her daughter with a better quality of life.
Catalina de 32 años de edad se ha caracterizado por ser una mujer luchadora y recursiva, Capaz de ver en la dificultad grandes oportunidades. Comenzó su con su plan de negocios gracias a un préstamo que le hicieron con el cual montó una tienda para cubrir los gastos del hogar y sostener a su hija de 13 años. Hoy aún conserva su tienda y desea invertir en ella, por esta razón se encuentra solicitando un crédito para la compra de surtido y el pago de facturas vencidas. Su mayor anhelo es poder ver crecer su microempresa y convertirla en una gran tienda de abarrotes, espera que su situación económica mejore y poderle suministrar a su hija una mejor calidad de vida.
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.