“In life, not everything is obtained overnight; some things require a process that costs effort and sacrifice”. With these words, María Cielo, a 40 year old woman with an 11 year old daughter, tells us how she has managed to build her business. She said that she began selling products through catalogs and that she was gradually saving to implement her business plan until her dream materialized. Today, she feels fortunate for the blessings that God has given her and is thankful for life’s many joys. Thanks to her work, her daughter has had the opportunity to study and she has been able to get her family ahead and offer them a decent life. Although a part of her dream is already a reality, Maria wishes to continue growing as a businesswoman. She wants her business to have more stock and better shelves and so she is requesting a loan that will enable her to carry out its purpose.
“En la vida no todas las cosas se obtienen de la noche a la mañana, algunas requieren de un proceso que cuesta esfuerzo y sacrificio” con estas palabras María Cielo de 40 años de edad y con una hija de 11, nos cuenta como a logrado construir su negocio. Manifiesta que comenzó vendiendo productos por catálogo y que poco a poco fue ahorrando para iniciar con su proyecto de empresa, hasta que materializó su sueño. Hoy se siente afortunada por las bendiciones que Dios le ha regalado y agradece a la vida por tantas alegrías. Gracias a su trabajo su hija ha tenido la oportunidad de estudiar y de sacar su familia adelante ofreciéndoles una vida digna.
Aunque parte de sus sueños ya son una realidad, María quiere seguir creciendo como empresaria, por lo cual desea ver su negocio más surtido y con unas mejores estanterías, por lo cual se encuentra solicitando un crédito que le permita llevar a cabo su propósito.
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.