Gloria, 44, has worked in cafeterias and bakeries for many years. So a year ago, she decided to start her own business. She mainly sells drinks, snacks, and liquor. A few months ago, she had an accident and fractured her leg, which caused her to miss work. Now she is asking for a loan to buy a television and buy supplies in order to increase her clientele and sales. She hopes to improve her economic situation and position her business within the local market.
Gloria de 44 años de edad, se dedica desde hace algunos años a laborar en cafeterías y panaderías. Por lo cual hace un año tomó la decisión de crear su propio negocio, allí comercializa principalmente bebidas, mecatos y licor.
Hace algunos meses sufrió un accidente en donde se fracturó una pierna, situación que la obligó a ausentare de su labor.
Hoy se encuentra solicitando un crédito para la compra de un televisor y compra de surtido con el fin de aumentar su clientela y las ventas. Espera mejorar su condición económica y posicionar su negocio dentro del mercado local.
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.