Flor Marina, 42, currently has a store that she opened to help with the household expenses. She has an eight-year-old child, and she strives to support him and give him a quality education.
Flor wants to increase sales in her business, so she's looking to stock her store with more merchandise and generate greater demand for her products. This is why she's requesting a loan to realize her project.
She hopes she can improve her family's financial stability with this investment and enjoy a better quality of life.
Flor Marina de 42 años, actualmente cuenta con una tienda la cual abrió para suplir los gastos del hogar. Tiene un hijo de ocho años de edad, por el cual lucha a fin de brindarle el sustento y una educación de calidad. Con el deseo de incrementar las ventas en su negocio, Flor busca abastecer con mayor mercancía su tienda y generar una mayor demanda de sus productos. Por lo cual se encuentra solicitando un crédito para la materialización de su proyecto. Espera que con dicha inversión pueda mejorar la estabilidad económica de su familia y gozar de una mejor calidad de vida.
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.