She is currently unemployed, which has caused problems for her household's economic stability. She has experience working in the health industry, but because of a lack of employment opportunities she has decided to start her own business and will buy a grocery shop that belonged to her sister for about 6 years. This is why she is requesting a loan so she can invest it in buying the business, stock (dairy products, snacks, fizzy drinks, oil and bathroom products) and to buy specialized accessories for running her business.
Yurany wants to take advantage of this opportunity to earn an income ad to be able to offer a better education to her son. She also counts on the support of her sister, who will teach her how to run the shop. She also wants to fulfill her dream and to legalize and accredit the business as quickly as possible and have it grow, with an eventual goal of providing better service to the customers and improving the quality of her home life.
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By supporting this loan, you're helping a borrower launch a new business!
This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.
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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