Alba, 51, is a woman who is passionate about her work and her family. She says that the goal she’s had since she was young was to work in the beauty field. To do so, she started taking courses at a haircut and styling academy. Later on she managed to open her beauty salon which is her source of income. Thanks to the business’ development she’s been able to provide her two minor children with food and schooling. She dreams with improving her children’s quality of life and guaranteeing them access to higher education. She’s currently applying for a loan she’ll use to buy a dressing table and a manicure table aiming at improving the quality of service and to increase her income.
Alba de 51 años de edad, es una mujer apasionada por su trabajo y familia. Asegura que desde su juventud el arte de la belleza, se convirtió en su mayor objetivo por alcanzar, de modo que inició estudiando en una academia corte y cepillado. Posteriormente logró montar su salón de bellaza el cual es su fuente de ingresos. Gracias al desarrollo de su actividad ha podido brindarles a sus dos hijos menores de edad educación y alimento.
Sueña con mejorar sus condiciones de vida y garantizarles acceso a la educación superior a sus hijos.
En la actualidad se encuentra solicitando un crédito que invertirá en la compra de un tocador y una mesa de manicure, con el fin de mejorar la calidad en el servicio y aumentar sus ingresos.
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.