Gloria Estella is a woman who has had to struggle to get ahead without any economic support and with great responsibilities. She strives to have a better future and improve her living conditions. For ten years she has been selling products by catalogue in order to generate enough income for her support.
Now she is requesting a loan to buy wholesale beauty and personal hygiene products in an effort to generate more income and improve her quality of life.
Gloria Estella es una mujer a la que le ha tocado luchar para salir adelante, sin ningún apoyo económico y grandes responsabilidades, Gloria lucha en búsqueda de un mejor futuro y mejores condiciones de vida. Desde hace 10 años se dedica a la venta de productos por catálogo y gracias a esta actividad genera los recursos para su manutención.
Hoy se encuentra en búsqueda de un crédito que destinará en la compra de productos de belleza y aseo personal al por mayor con el fin de generar ingresos y mejorar su calidad 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.