Nubia is 44 years old. She is a woman that has had to take risks and face challenges in order to improve her quality of life. For the past eight years she has earned a living selling products by catalogue. Nubia was left unemployed after working for a company for more than 15 years. Having many needs and obligations and with few opportunities to find work because of her level of education, Nubia decided to start her own business.
Although making sales can be difficult, and sometimes irresponsible clients do not pay their bills, this job allows Nubia to support herself and enjoy a good quality of life.
Her dream is to be able to expand her business and establish a formal store to sell her products. Convinced that dreams can come true, Nubia is requesting a loan to buy merchandise in bulk. This will allow her to increase her sales and save money to establish a store.
Nubia de 44 años de edad, es una mujer a la que le ha tocado asumir riesgos y afrontar retos para mejorar su calidad de vida. Desde hace ocho años se dedica a la venta de productos por catálogo, después de quedarse sin empleo en la empresa en donde laboró por más de 15 años. Llena de necesidades y obligaciones y con pocas oportunidades en el campo laboral debido a su nivel educativo, Nubia decidió emprender su propio negocio.
Asegura que aunque las ventas a veces son duras y existan clientes irresponsables que no cancelan sus deudas, esta actividad le ha permitido sostenerse y tener una buena calidad de vida.
Su mayor sueño es poder ampliar su negocio y adecuar un local para vender sus productos de manera formal; convencida de que los sueños se hacen realidad, esta mujer se encuentra solicitando un crédito que invertirá en la compra de mercancía al por mayor que le permitirá aumentar sus ventas y con ello ahorrar para montar su almacén.
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.