Yolima is twenty-one years old and is passionate about studying. Unfortunately, her family does not have the resources to pay for her university studies. Although she consents to the situation, she has tried and exhausted all means to achieve her goal.
She decided to sell Amway health, beauty, and home products, an activity that does not take up too much time and that generates income that she will use for her studies. For this reason, she is requesting a loan that will allow her to buy an assortment of products for the New Year season; she does not have her own resources to make the stated investment.
Yolima is a woman full of dreams and projects. She is clear that the most important thing is her education, since her future and that of her family depends on it. She hopes she will be able to graduate and use her career to help her family and improve her economic situation.
Yolima tiene 21 años de edad y le apasiona estudiar, desafortunadamente su familia no cuenta con los recursos para pagarle los estudios universitarios. Aunque es consiente de la situación, ha agotado todas las instancias para lograr su propósito. Decidió vender productos Amway para la salud, belleza y el hogar, actividad que no le quita mucho tiempo y le genera recursos que destinará para su estudio. Por esta razón se encuentra solicitando un crédito que le permita comprar surtido para la temporada de fin de año, ya que no cuenta con recursos propios para realizar dicha inversión. Yolima es una mujer llena de sueños y proyectos y tiene claro que lo más importante es su educación porque de esto depende su futuro y el de su familia. Desea poder graduarse y ejercer su carrera para ayudar a su familia y mejorar su condición económica.
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.