Paula Andrea, 20, conducts herself like a great entrepreneur. Seven months ago she and her boyfriend decided to set up a store to sell accessories in the main park in the town of Bello, Antioquia, Colombia.
"My son is my main motivation, the force that drives me to get ahead. Having set up my own business allows me to pay attention to him all the time." With these words Paula explains where she got the idea to create a business. She's affirms that her biggest dream is to be able to strengthen her business so she can give her 18-month-old baby a decent life.
She's requesting a loan to buy a new line of stock and expand her product portfolio. She's hoping sales will increase and generate greater income, which she'll invest again in her business with the goal of strengthening her endeavor.
Paula Andrea a sus 20 años de edad se proyecta como una gran empresaria. Desde hace 7 meses decidió montar con su novio un almacén dedicado a la venta de accesorios, en el parque principal del municipio de Bello, Antioquia, Colombia.
“Mi hijo es mi mayor motivación, la fuerza que me impulsa a salir adelante, y haber montado mi propio negocio me permite estar pendiente de él todo el tiempo”. Con estas palabras Paula explica de donde surge la idea de crear empresa. Asegura que su mayor sueño es poder consolidar su negocio para ofrecerle a su bebe de 18 meses una vida digna. Se encuentra solicitando un crédito para comprar una nueva línea de surtido y ampliar su portafolio de productos, esperando que las ventas se incrementen y puedan generar mayores ingresos que serán invertidos nuevamente en el negocio con la finalidad de consolidar su empresa.
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.