María is a very dynamic woman and she is very eager to get ahead and bring home an income on her own. That is her motivation to request a loan, because she wants to start her own business selling ice cream and snacks. She wants to invest in purchasing a freezer, install bars in her home, and stock up on products (snacks, sodas, ice cream). This will make the most of the fact that in the area where she lives there are a lot of children and no businesses that offer these products. This will allow her to generate income to support her father and bring sustenance to her home.
María's dream is to have a well-established and long-standing business. She would like to gradually introduce a wider variety of products in order to satisfy her customers' needs so that she can have a better quality of life.
More information about this loan
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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