Luz Alba is 59 years old. She is a resourceful and determined woman who has been engaged in caring for her house and her children throughout her life. 7 years ago she decided to set up a shop in her house in order to help her husband paying for their expenses and to provide her son with a better education.
She dreams of supplying her shop and of providing a better service to her customers; she also dreams of increasing her sales and of improving her family’s standard of living. Luz tells us that they were going through a big crisis when she opened her shop, as her husband had lost his job and their expenses increased to the point where the shop could not be sustained and they went bankrupt. They have then succeeded in reopening it with many sacrifices and now things have progressed. For this reason she is requesting a loan to buy a freezer to supply her shop with different products and increase her products range.
Luz Alba de 59 años de edad, es una mujer emprendedora y guerrera, toda su vida se dedicó a las labores del hogar y a cuidar de su hijo. Hace 7 años decidió montar una tienda en su casa para colaborarle a su esposo con los gastos y ofrecerle a su hijo una mejor educación.
Sueña con poder surtir su negocio y ofrecerles a sus clientes una mejor calidad en el servicio, así como aumentar las ventas y mejorar la calidad de vida de su familia. Luz cuenta que cuando inició su negocio tuvo muchas crisis debido a que su esposo se quedó sin empleo y los gastos comenzaron a incrementarse hasta el punto en que la tienda no pudo sostenerse y se quebraron. Luego de mucho sacrificio volvieron a levantarla y hoy van en progreso. Por esta razón se encuentra solicitando un crédito con el que comprará un congelador para diversificar sus productos e incrementar el surtido.
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.