Lilian De Jesús
Lilian's great passion for making confectionery products has led her to train in the art of cookery. She is requesting a loan to pay for a course in cake baking and decorating. She will use the techniques she learns to make cakes which she will sell to people in her community. This will allow her to help her husband in providing for the family.
Su gran pasión por la repostería la ha llevado a capacitarse en el arte de la cocina, por lo cual se encuentra solicitando un crédito con el que pagará el curso de bizcochos y cubiertas, Técnica que aprovechará para realizar las tortas que comercializa entre las personas de su comunidad y ayudarle a su esposo con la carga del hogar.
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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