She wants to start a store that sells shoes and clothing for women, merchandise that comes from China, which will generate better turnover of stock and good profitability. She obtained the knowledge that she has in business from her parents, who have worked the larger part of their lives independently, and have a store that sells used clothing on one of the principal plazas in the city.
She is requesting the loan with the goal of investing it in the purchase of merchandise in bulk (shoes, tennis shoes, blouses, women's jeans), with which she hopes will give a start to her project and in that way start to generate the sufficient resources to support her husband with the economics of the home, and additional that she will have the possibility of generating employment for other people.
In this way, Jenifer wishes to fight to achieve her dream of expanding her business, opening more branches in different parts of the city, and in the future, to be able to travel to different countries of the world that stand out for textile production like China, Los Angeles, and New York; but she is conscious that to achieve it she should work hard and put forth effort with much determination and dedication.
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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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