Luz Elena Del Socorro
She worked for over twelve years for a state company. She is now unemployed and tells us that the doors to the work world have been closed to her because of her age. This has motivated her to create her own business with the goal of generating an income for her household.
She is requesting a loan which she will invest in getting training to make sponge cake and spreads.
Laboró por más de doce años en una empresa del Estado. En la actualidad se encuentra desempleada y asegura que las puertas al mundo laboral se le han cerrado debido a su edad. Razón que la ha motivado a crear su propio negocio con el fin de generar el sustento para su hogar.
Se encuentra solicitando un crédito que invertirá en capacitarse en la elaboración de bizcochos y cubiertas, con el que espera desarrollar su potencial y comenzar a elaborar tortas para fechas especiales.
More information about this loan
This loan is part of Interactuar's effort to being innovative and high-quality non-financial products to more borrowers.
In addition to credit, the organization provides training in business management, gastronomy, tourism, marketing, design, sales, and other areas. It also advises borrowers on their new and existing businesses, and its food laboratory helps farmers increase their crop yields. Together, all of these services help borrowers gain new skills and optimize their businesses.
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.
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