Luz is a visionary 45-year-old woman who is highly motivated to work to improve her family's standard of living. In her home she makes all types of fast food. Her business has become popular in her neighborhood thanks to the quality service she provides.
With the goal of continuing to grow her business, Luz is seeking a loan so that she can invest in a microwave oven and a small refrigerator. She will also buy other supplies which will enable her to increase her sales and satisfy her customers.
She dreams of being able to guarantee her three children a quality education and better opportunities in life.
Luz, de 45 años de edad, es una mujer visionaria y con muchos deseos de trabajar para mejorar las condiciones de vida de su familia.
Desde su casa elabora toda clase de comidas rápidas, las cuales han ganado popularidad en su barrio gracias a la calidad en el servicio. Con el fin de seguir creciendo en el sector, Luz se encuentra solicitando un crédito que invertirá en la compra de un microondas, una nevera pequeña y surtido que le permitirán aumentar las ventas y satisfacer la demanda en el sector.
Sueña con garantizarles a sus tres hijos una educación de calidad y mejores oportunidades 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.