Ruth is 52 years old and has had a passion for sales since she was very young, but she decide to be a stay home mother while her husband was responsible for providing for the household needs. Due to the financial crisis they suffered, Ruth decided to start a business and began selling products via catalog. This has provided her with good earnings and she wants to continue. She is asking for a loan to buy merchandise to have on hand and increase her sales.
Her greatest desire is to open her own store where she can not only sell via catalog, but also sell clothing and accessories. She feels very satisfied because thanks to her work the family’s living conditions have improved.
Ruth de 52 años de edad, desde joven ha sido una apasionada por las ventas pero se dedicó a cuidar de sus tres hijos y su esposo se hizo responsable de las necesidades del hogar. Debido a una crisis económica que padecieron, Ruth decidió emprender camino en el sector comercial y comenzó a vender productos por catálogo, actividad que le ha dejado buenas ganancias y quiere seguir realizando, motivo por el cual se encuentra solicitando un crédito que invertirá en la compra de mercancía a fin de tener un stock y aumentar su volumen de ventas.
Su mayor deseo es montar su propio local en el que no sólo distribuya productos por catálogo si no ropa y accesorios. Se siente muy satisfecha porque gracias a su labor las condiciones de vida han mejorado para su familia.
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.