With the goal of improving their household income, Milena is requesting a loan so that she can get training in preparing fast food. She and her husband will then work in that area.
She dreams of creating her own business and improving her nuclear family's quality of life, guaranteeing her children a good education.
Con el fin de mejorar los ingresos del hogar, Milena se encuentra solicitando un crédito con el fin de capacitarse en la preparación de comidas rápidas y dedicarse en conjunto con su esposo a la actividad.
Sueña con crear su propio negocio y mejorar la calidad de vida de su núcleo familia, garantizándoles a sus hijos una buena educación
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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