Omaira, at the age of 52, is an entrepreneurial woman who began her business with the goal of generating a source of income to support herself and her two children. She has been selling catalog products for four years from her home. Now she needs to purchase stock (perfumes, cosmetics, and accessories) and a display case to show it in, with the goal of increasing her sales for Mothers' Day.
She hopes to generate more income, which will allow her to improve her quality of life and achieve her dream of having her own store.
Omaira a sus 52 años de edad es una emprendedora quien inició su negocio con el fin de generar una fuente de ingresos para su sustento y el de sus dos hijos. Se dedica a la venta de productos por catálogo desde hace cuatro años desde su vivienda. En la actualidad requiere de la compra de surtido (perfumes, cosméticos y accesorios) y una vitrina para exhibirlos, con el fin de incrementar sus ventas para el día de las madres.
Espera generar mayores ingresos que le permitan mejorar su calidad de vida y cumplir el sueño de tener su propio almacén.
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.