Liliana is 44 years old. She is the mother of two children, aged 14 and 17. Because she is a single mother and the great responsibilities in the home, she decided to open a business in her home to generate income to support the household and educate her children. At the same time, she takes care of the housework.
Her biggest dream is to position her store in the area to increase her sales and generate more income that will allow her to have a better quality of life. That is why she is asking for a loan with which she hopes to finance the purchase of merchandise and offer a better service.
Liliana tiene 44 años y es madre de dos hijos de 14 y 17 años de edad, por su condición de madre soltera y las grandes responsabilidades en el hogar, decidió montar un negocio en su casa con el fin de generar ingresos que le permitieran sostener su hogar y brindarles educación a sus hijos, al mismo tiempo que se encarga de los quehaceres de la casa.
Su mayor sueño es posicionar su almacén en el sector con el fin de incrementar sus ventas y generar mayores ingresos que le permitan tener una mejor calidad de vida, Razón por la cual se encuentra solicitando un crédito con el que espera financiar la compra de mercancía y ofrecer un mejor servicio.
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.