Edy is 30 years old and a hard working woman with big dreams. She envisions herself as a great businesswoman and so she has taken the first step to get started. For a few months she has been selling clothing, shoes, and accessories. This activity has converted into an income source and a way to support her family.
Her dream is to open her own clothing store, and she thinks she is halfway there. Really, she is looking for a loan that she will invest in purchasing more stock and increasing sales, guaranteeing her family better living conditions.
Edy de 30 años de edad, es una mujer pujante y con grandes sueños por realizar. Se visiona como una gran empresaria, por lo cual ha comenzado a dar su primer paso. Desde hace algunos meses se dedica a la venta de ropa, calzado y accesorios. Actividad que se ha convertido en su fuente de ingresos para la manutención de su familia.
Sueña con poder montar su propia tienda de ropa, pero considera que este es un proyecto a mediano plazo. En la actualidad se encuentra solicitando un crédito que invertirá en la compra de surtido con el fin de aumentar sus ventas, garantizándole a su familia mejores condiciones 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.