Cristina is 27 years old and makes a living selling Amway products to family members, friends and acquaintances. This business grew thanks to Cristina's passion and ability for sales. She currently works alone, and with her charisma and friendlies has been able to obtain and retain a large number of customers. With the goal to continue growing her business, she is requesting the loan to purchase beauty and personal hygiene products. This will allow her to increase her income and help out with household expenses and the education of her 4-year-old son.
Cristina tiene 27 años de edad y se dedica a la venta de productos amway a familiares, amigos y conocidos, este negocio surgió gracias a la pasión y a la habilidad que Cristina tiene para las ventas. Actualmente, trabaja sola y con su carisma y amabilidad ha logrado conseguir y fidelizar un gran número de clientes.
Con el propósito de continuar con el crecimiento de su negocio, se encuentra solicitando un crédito que invertirá en la compra de productos de belleza y aseo personal, lo que le permitirá mejorar sus ingresos y contribuir con los gastos en su hogar y la educación de su hijo de 4 años de edad.
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.