Yuliana is a 24 year-old young woman who is enterprising and has a strong desire to start working toward a professional degree. Her financial situation is her main impediment, and so some months ago she decided to start selling fast food so that she could pay for her education. In order to increase her income, Yuliana is requesting a loan to invest in supplies and equipment for her business.
Yuliana's main dream is to have a stable job so that she can ensure that her mother can have a decent life free of economic hardship.
Yuliana es una joven de 24 años de edad, emprendedora y con muchos deseos de iniciar con su carrera profesional. Su condición económica se ha convertido en su mayor limitante, por lo cual desde hace algunos meses decidió dedicarse a la venta de comidas rápidas y pagarse sus estudios. Con el fin de aumentar sus ingresos, Yuliana se encuentra solicitando un crédito que invertirá en la compra de surtido y adecuaciones locativas.
Su mayor sueño es tener un empleo estable y garantizarle a su madre una vida digna sin carencias económicas.
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.