Miriam is a thirty-seven-year-old mother of a three-year-old son, who is her reason for living. Due to the lack of employment opportunities in her city of San Luis, Colombia, she decided to begin selling products through catalogs, which allows her to be available to take care of her son and to generate income for their sustenance.
She travels throughout her city searching for new customers so that she can sell her products and achieve a good profit. Her dream is to be able to establish her business in the city center, but she knows that achieving this will require time and discipline.
Currently she is seeking a loan so that she can buy new health and beauty products. Customers have asked her for these products on repeated occasions, but for lack of resources she has not been able to purchase them.
Miriam de 37 años, es madre de un pequeño de 3 años de edad, el cual es su razón de vivir. Debido a al falta de oportunidades para emplearse en su municipio, San Luis, Colombia, Miriam optó por dedicarse a la venta de productos por catálogo, actividad que le permite estar pendiente de su hijo y generar ingresos para su sostenimiento.
Miriam recorre las veredas de su municipio en búsqueda de nuevos clientes con el fin de vender sus productos y generar una buena rentabilidad. Su sueño es poder montar su negocio en el casco urbano, pero sabe que para lograrlo requiere de tiempo y disciplina, por el momento se encuentra en búsqueda de un crédito para financiar la compra de nuevos productos de belleza y salud, los cuales le han solicitado en repetidas ocasiones pero que por falta de recursos no ha podido comprar.
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.