Luz Marielli is 50 years old and the mother of three children. She began selling products by catalog with the aim of generating the necessary income to sustain her family. Now she is experiencing economic difficulties, and she requires the capital to acquire beauty and personal hygiene products to increase her sales and better the quality of life for her family. Her greatest desire is to start her own store selling clothing and beauty products.
Luz Marielli de 50 años de edad y madre de tres hijos, inició con la venta de productos por catálogo con el fin de generar los ingresos necesarios para el sostenimiento de su familia. Actualmente pasa por dificultades económicas por lo que requiere de capital con el cual desea adquirir productos de belleza y aseo personal para incrementar sus ventas y mejorar la calidad de vida de su núcleo familiar.
Su mayor deseo es montar su propio almacén de ropa y productos de belleza.
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.