Her self-improvement spirit, energy and enthusiasm lead her to seek new alternatives to move forward and this is why she’s requesting the loan she wants to use to stock up on merchandise at wholesale (baby clothes and clothes for children aged 1-6) and nutritional products (blended drinks, diet shakes, vitamins, multivitamins, etc.) In this way she’ll have a more varied inventory on-hand to meet demand that rises with the arrival of Christmas and her income will rise accordingly.
Leidy wants to continue working to become well-known and to strengthen her business so that in future she can reach her dream of opening her clothing and children's and infant's accessories store for she’s passionate about her work and sees it as a good source of income to ensure her family’s favorable economic stability and better quality of life.
More information about this loan
By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.
This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.
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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This loan has been fully funded!