Isalia is 26 years old and the single mother of a girl who is barely 7 months old. She is currently a worker for a textile company, a trade that she learned in her hometown, Ituango. However, because the father of her daughter helps her very little economically, she found it necessary to look for another source of income and found the company Amway to be a very good opportunity, selling its products by catalog.
Her main goal with the loan is to buy merchandise (cleaning products, body creams, cosmetics, among other products) so that she can have economic stability that will allow her to give her daughter a better life. In addition, Isalia is studying massage therapy and cosmetology, and she dreams of having her own business when she finishes her studies.
Isalia tiene 26 años y es madre soltera de una niña de apenas 7 meses de nacida. Actualmente trabaja como operaria en una empresa de confecciones, oficio que aprendió de su pueblo natal, Ituango. Sin embargo como el padre de su hija le ayuda con tan poco económicamente, se vio en la necesidad de buscar otra fuente de ingresos y encontró en la empresa Amway una muy buena oportunidad, vendiendo por catálogo sus productos. Su principal objetivo con el crédito es comprar mercancía (productos de aseo, cremas corporales, cosméticos, entre otros); para poder así tener una estabilidad económica que le permita darle a su hija mejores condiciones de vida. Además Isalia se encuentra estudiando masoterapia y cosmetología y sueña con poder tener su propio negocio cuando termine de estudiar.
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.