At the age of 55, Carmen works selling basic staple items in her store. She works every day from 8am until 10pm. The business project arose due to her sector’s not having said service and she took advantage of the opportunity to generate income and help her spouse with expenses.
At present, she’s asking for a loan to buy stock merchandise to improve her sales and to introduce new lines of products requested by her customers. She hopes to continue growing in the sector and to enjoy better living conditions.
A sus 55 años de edad, Carmen se dedica a la venta de productos de la canasta familiar en su tienda. Labora diariamente de 8:00 a.m a 10:00 p.m. El proyecto de negocio surgió debido a que en su sector no había la prestación de dicho servicio y aprovechó la oportunidad para generar ingresos y colaborarle a su cónyuge con los gastos.
En la actualidad se encuentra solicitando un crédito que invertirá en la compra de surtido con el fin de mejorar sus ventas e introducir nuevas líneas de productos solicitados por sus clientes.
Espera seguir creciendo en el sector y gozar de mejores condiciones de vida.
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.