With the loan she is requesting from Interactuar, Carolin will buy fixed assets (chairs, tables) and inventory (pastries, sodas, liquor) so that she can have a wider variety of products needed to generate more customer traffic and improve her earnings. Her greatest wish is to locate her business in a shop of her own and have it well-organized with a good amount of available inventory. As a result, she will able to increase her profitability and 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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