Alba Nelly is a single mother head of household. Currently she has a business selling hair salon and beauty products in general after having worked many years in a dressmaking business. She is a very hardworking and dedicated woman. While she worked as a dressmaker she saved money until she had enough capital set aside to start her own business. She worked long hours every day to do so.
With the loan she is requesting she wants to purchase two glass cabinets to display her merchandise, as well as more supplies (hair treatments, cosmetics, nail polish, dyes) with the goal of having a greater diversity and quantity of products available to satisfy her clients’ needs.
Her principal dream is to start another business in a more central location so that her daughter can manage it and in this way she can increase her income and thus support her household’s needs.
Alba Nelly es una mujer soltera y madre cabeza de hogar. Actualmente se dedica a atender su negocio donde vende todo lo relacionado con productos para peluquería y belleza en general, después de haber laborado muchos años como operaria, en una empresa de confecciones. Es una mujer emprendedora y dedicada, mientras laboraba en las confecciones fue ahorrando hasta completar su capital para montar su propio negocio, en el cual labora largas jornadas cada día. Con el crédito que solicita desea comprar dos vitrinas para exhibir los productos y más surtido (tratamientos capilares, cosméticos, esmaltes para uñas, tintes) con el fin de tener mayor disponibilidad de productos y diversidad de marcas para satisfacer las necesidades de los clientes. Su principal sueño es montar otro negocio en un local más central para que su hija lo administre y de esta forma incrementar sus ingresos para el sostenimiento de las necesidades de su hogar.
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.