Carmen is 51 years old and is an enterprising woman with many dreams to achieve. Ten years ago she began building her own business dedicated to die-cutting services for boxes. Today she feels like this has been the biggest success in her life since this activity has allowed her to improve her family's living conditions. Her greatest dream is to continue growing in the local market and to position her service.
Presently, Carmen lacks the economic resources to carry out maintenance on her machines, which is why she is requesting a loan which will permit her to revive her business and to increase the volume of sales.
Carmen de 51 años de edad, es una mujer emprendedora y con muchos sueños por cumplir. Desde hace diez años inició la creación de su propio negocio dedicado al servicio de troquelado para cajas. Hoy siente que este ha sido su mayor logro en la vida ya que con esta actividad ha podido mejorar las condiciones de vida de su familia.
Su mayor sueño es seguir creciendo en el mercado local y posicionar su servicio.
En la actualidad, Carmen carece de recursos económicos para realizar el mantenimiento de las máquinas, por lo cual se encuentra solicitando un crédito que le permita reactivar su negocio e incrementar el volumen de ventas.
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.