Update on Claudia ElenaClaudia is a 37 year old female entrepreneur who is driven to improve her future and the wellbeing of her children. She sells herbalife products, an activity that allows her to contribute to the household expenses and provide a quality education to her children.
Today she is requesting a loan to invest in merchandise to increase her sales, due do the good reception her products have had in the area.
Her biggest dream is to have enough resources to purchase a home.
Actialmente se dedica a la venta de productos herbalife, actividad que le permite contribuir con los gastos familiares y suministrarles a sus hijos una educación de calidad. Hoy se encuentra solicitando un crédito que invertirá en la compra de mercancía con el fin de aumentar sus ventas, debido a la acogida que ha tenido su producto en el sector.
Su mayor sueño es generar los recursos suficientes para la adquisición de una vivienda.
Previous Loan DetailsAt her 36 years of age, Claudia is a determined woman who tries to find ways of taking care of her 2 children, aged 15 and 6, providing them with an education. She does this as a street vendor selling food such salchipapas (sausage and chips), cheese arepas (tortillas stuffed with cheese) and sau... More from Claudia Elena's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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