Consuelo, 55, is the mother of two children. She has made a living selling catalogue products for more than 16 years because she needs to generate income to support her household and her children's education.
Currently she's requesting a loan to invest in buying beauty and personal care products. Her goal is to give her customers better service and increase her income level so she has a better quality of life.
Her biggest dream is to set up a clothing store in the living room of her house.
Consuelo de 55 años de edad, es madre de dos hijos. Se dedica a la venta de productos por catálogo desde hace más de 16 años, debido a la necesidad de generar ingresos para el sostenimiento de su hogar y la educación de sus dos hijos. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de productos de belleza y uso personal, con el fin de garantizarles a sus clientes un mejor servicio y aumentar su nivel de ingresos que le garantice una mejor calidad de vida.
Su mayor sueño es montar una tienda de ropas en la sala de su residencia.
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.