Luz Adiela, 46, is an entrepreneur who began her business to generate an income for her and her son. For some time she has been selling products by catalogue, which activity she alternates with fast food sales on the weekends. Now she is requesting a loan to buy a new refrigerator as well as beauty and body care products to fill customer demand. With this investment, Luz Adiela will be able to generate more income so she can have a better quality of life and meet her goal of having her own shop.
Luz Adiela a sus 46 años de edad es una emprendedora quien inicia su propio negocio con el fin de generar una fuente de ingresos para su sustento y el de su hijo. Se dedica a la venta de productos por catálogo desde hace algún tiempo, actividad que alterna con la venta de comida rápida los fines de semana. Hoy se encuentra solicitando un crédito que invertirá en la compra de una nevera y artículos de belleza y aseo personal con el fin de satisfacer la demanda de sus clientes. Con dicha inversión, Luz Adiela podrá generar mayores ingresos que le permitan mejorar su calidad de vida y cumplir su 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.