Laura is an enterprising person who has a natural instinct for business and the drive to succeed. In order to generate more profit, she takes advantage of internal promotions offered through the catalogs and then sells the merchandise to the general public at a stated price. With the loan she is requesting from Interactuar, Laura will buy more merchandise such as body crèmes, perfumes, trinkets, toiletries, and cosmetics, as well as a display cabinet that she needs to exhibit her products. As a result, she will be able to offer a greater variety to her customers, increase her sales, and eventually raise her income level. Her main goal is to establish a career in sales, so she wants to take advantage of this current opportunity of selling catalog products in order to improve her quality of life.
Important InformationThis 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.
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