Noelia is 48 years old and has two children. As she wanted to help her family get ahead, she decided to sell products from a catalog, a job that allows her to look after her family and the household too. One of Noelia's biggest challenges has been to overcome financial difficulties when several of her customers lost their jobs and couldn't pay for their purchases. This led to losses for her business.
Because she is keen to improve her financial situation, Noelia is now seeking a loan to buy more stock (beauty products etc.) and access a niche in the market. In this way she will increase her income and improve her family's quality of life.
Noelia a sus 48 años de edad es madre de dos hijos. Con el ánimo de sacar adelante a su familia, decidió dedicarse a la venta de productos por catálogo, actividad que le permite estar pendiente de su familia y realizar las labores domésticas.
Uno de sus mayores retos ha sido afrontar algunas dificultades económicas, debido a que varios de sus clientes se han quedado sin empleo por lo cual no le han cancelado oportunamente, lo que se traduce en pérdidas para su negocio.
Con el ánimo de mejorar su condición económica Noelia se encuentra solicitando un crédito para la compra de surtido con el fin de abrir un nuevo nicho de mercado, aumentando sus ingresos y mejorar la calidad de vida de su núcleo familiar.
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.