Sor Caridad has been selling merchandise for ten years. Thanks to her charisma and good service, she has steady customers. She has managed to improve her family’s quality of life with the development of her business. This makes her satisfied for having reached her goal. Now she is asking for a loan to buy clothing and accessories so she can increase her sales.
Her dream is to buy a house and open her own clothing store but she knows that this will be a medium term project.
Sor Caridad, se dedica a la venta de mercancía desde hace más de 10 años, gracias a su carisma y el buen servicio goza de una clientela permanente. Con el desarrollo de su actividad ha mejorado las condiciones de vida de su familia lo que le permite sentirse satisfecha por el logro alcanzado.
Hoy se encuentra solicitando un crédito que invertirá en la compra de ropa y accesorios, con el fin de mejorar sus ventas.
Su mayor sueño adquirir una vivienda y montar su propia tienda de ropa, pero tiene claro que esto será un proyecto a mediano plazo.
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.