Myriam is forty-three years old, is married, and has two children.
In search of generating resources in order to sustain her children and to help her husband with home expenses, Myriam began to sell shoes, shirts, jeans, and underwear that clients had ordered from her about two years ago. With the good reception that she received from her customers, she decided to open a clothing store in order to increase her income.
Thanks to this activity, the quality of life of her immediate family has improved. With the idea of continuing to grow and to position herself in the local market, she is requesting a loan in order to buy merchandise. This will allow her to have a good supply for Mother's Day; sales increase on this date.
Myriam de 43 años de edad, es casada y tiene dos hijos.
En búsqueda de generar recursos para el sostenimiento de sus hijos y colaborarle a su esposo con los gastos del hogar, Myriam inicio desde hace más de dos años con la venta por encargo de mercancía como zapatos, camisas, jeans y ropa interior. Con la buena acogida que tuvo por parte de sus clientes, optó por crear una tienda de ropas y aumentar sus ingresos.
Gracias a esta actividad la calidad de vida de su núcleo familiar ha mejorado. Con el fin de seguir creciendo y posicionarse en el mercado local, se encuentra solicitado un crédito para la compra de mercancía que le permitirá tener buen surtido para el día de las madres, fecha en la que se elevan las 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.