Luz Amparo is 44 years old. She is married and is a stay-at-home mom with a 16-year-old son. For four years she has made a living selling merchandise (cosmetics, underwear, jewelry), household products (pressure cookers, blenders, rice cookers), and selling food (cookies, chocolates, dairy products, among others). Her family and acquaintances are her customers.
Since she started, she has been working alone everyday and in her free time taking care of her neighbors' children, which generates additional monthly income. She is requesting a loan of 350,000 Colombian pesos for the purchase of a variety of merchandise to change her sales for the better since she says, “I’ll have more variety in order to sell more.”
Luz Amparo de 44 años de edad, es casada y madre de un hijo de 16 años, desde hace 4 años dedicada a la venta de mercancía (cosméticos, ropa interior, joyería; productos de hogar como ollas a presión, licuadoras, arroceras y venta de comestibles (Galletas, chocolates, lácteos, entre otros)), donde sus clientes son su familia y conocidos.
Desde que comenzó, viene trabajando sola todos los días y en sus tiempos libres cuidando niños de vecinos, lo que le generan otros ingresos mensuales.
Pide un crédito de 350.000 para la compra de surtido de mercancía, cambiando positivamente sus ventas puesto que como dice ella “tendré mas surtido, para vender más”
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.