Luz Marina is a woman who is dedicated to her children and the household chores, activities she balances with running the store she has in the living room of her house. Every day without fail her business is open from 7 in the morning until 9 at night. "My business is a big blessing. Thanks to it my children have been able to get a degree and get ahead." With these words Luz tells us how important her store is to her.
Currently she's requesting a loan to buy stock, especially liquor and packed lunches for the end-of-the year season. She hopes the investment will give her good profits to give her children a happy Christmas.
Her biggest dream is to be able to have a better quality of life and give her children the opportunity to attend the university.
Luz Marina es una mujer dedicada a sus hijos y a las labores del hogar, actividades que alterna con la administración de su tienda, la cual se encuentra ubicada en la sala de su casa. Todos los días sin falta abre su negocio de 7 de la mañana a 9 de la noche. “Mi negocio es una gran bendición gracias a él mis hijos han logrado estudiar el bachillerato y salir adelante” con estas palabras doña Luz nos cuenta lo importante que es para ella tener su tienda. En estos momentos se encuentra solicitando un crédito para la compra de surtido especialmente licor y mecatos para la temporada de fin de año, inversión que espera le deje buenas utilidades para ofrecerles a sus hijos un feliz navidad. Su mayor sueño es poder tener una mejor calidad y ofrecerles a sus hijos la oportunidad de ingresar a la universidad.
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.