Genoveva, 56, is an enterprising woman with many dreams to fulfill. She loves her family and claims they are her greatest strength for getting up each morning and working hard to generate an income.
For more than eight years she has been working in her store where she sells staple products, pastries and vegetables. Due to the money that this woman generates, she has managed to provide a better quality of life for her family.
Her greatest wish is to stock her store better, because her customers continuously ask for products which she does not have and that results in a loss of money and customers.
Therefore she is asking for a loan to invest in the purchase of merchandise which will allow her to elevate her level of income.
Genoveva de 56 años de edad, es una mujer emprendedora y con muchos sueños por materializar, ama su familia y asegura que son su mayor fortaleza para levantarse cada mañana y luchar por generar el pan de cada día. Desde hace más de ocho años trabaja en su tienda dedicada a la venta de productos de la canasta familiar, mecatos y verduras. Gracias al dinero que genera esta mujer ha logrado brindarle a su familia una mejor calidad de vida.
Su mayor deseo es surtir mejor su negocio, debido a que sus clientes le solicitan continuamente productos con los que no cuenta, lo que le ocasiona pérdidas monetarias y de clientes, por esta razón se encuentra solicitando un crédito que invertirá en la compra de mercancía lo que le permitirá elevar su nivel de ingresos.
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.