Verónica, age 26, is the single mother of a three year old. Because she separated from her husband, she needed to take on the household responsibilities. Therefore, she started working as a salesperson in her sister’s store.
However, because her sister had to move to the city of Medellín, she offered to sell her business to Verónica. She accepted, and she is now the owner. She has had the business for five months, and she affirms that the sales are good. This has driven her to request a loan in order to finish paying her sister and to invest in stock.
She dreams of seeing her business grow and of selling not only underwear and accessories. She dreams of introducing new lines of products.
Verónica de 26 años de edad, es madre soltera de un hijo de tres años, A raíz de la separación con su cónyuge debió asumir todas las responsabilidades del hogar, por lo cual inició laborando como vendedora en el almacén de su hermana, pero debido a que ella debió radicarse en la ciudad de Medellín ofreció vendérselo a lo ella aceptó y hoy es la propietaria. Lleva cinco meses como dueña del negocio y asegura que las ventas son buenas, lo que la ha impulsado a solicitar un crédito para terminar de pagarle a su hermana e invertir en surtido.
Sueña con ver crecer su negocio y no sólo dedicarse a la venta de ropa interior y accesorios si no introducir nuevas líneas de productos.
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.