Nubia decided to start her delicatessen six years ago after observing that other businesses were profitable. She opens her business every day from 2 p.m. until 10 p.m. She works with her employee for hours in an exclusive property in order to sell her products. It is a profitable business that allows her to make earnings necessary in order to support her home and her young son.
She is requesting a loan so that she can purchase merchandise (liquors, soft drinks, cakes, etc.) and she can outfit her business.
Nubia hace 6 años tomo la dedición de iniciar su salsamentaría al observar que a otros empresarios les era rentable, todos los días abre su negocio de 2 pm a 10 pm, trabaja con su empleado por horas, en un local exclusivo para la venta de sus productos, es un negocio rentable el cual le permite generar los ingresos necesarios para mantener su hogar y a su hijo menor.
Ella solicita el crédito para poder comprar mercancía (licores, gaseosas, mecato, etc.), y para adecuar su local.
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.