Flor María has had a store for the last six months where she sells clothes, accessories and shoes. She worked for many years as an employee in a clothing store until she made the decision to become independent and invest her savings in creating her own business. Today, she feels satisfied by her determination and stresses that it’s been a great accomplishment for her.
Aiming at growing in the local marketplace, Flor is asking for a loan to buy merchandise in order to have a wider variety of goods available to increase her income. Her greatest dream is to live in peace free of economic concerns enjoying the love of her family.
Flor María, desde hace 6 meses tiene un almacén, en donde se dedica a la comercialización de ropa, accesorios y calzado. Laboró por muchos años como empleada en una tienda de ropa hasta que tomó la determinación de independizarse e invertir sus ahorros en la creación de su negocio. Hoy se siente satisfecha por su determinación y asegura que ha sido un gran logro para ella. Con el fin de crecer dentro del mercado local, Flor se encuentra solicitando un crédito que invertirá en la compra de mercancía para tener mayor variedad de productos e incrementar sus ingresos.
Su mayor sueño es tener una vida tranquila sin preocupaciones económicas y disfrutando del amor de su familia.
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.