She already has her location – it belongs to her husband – but she needs the assistance of a loan to purchase 4 computers, desks, chairs, and a selection of paper and other supplies. She also needs to prepare the space. In this manner, she can launch her productive project, where she will work Monday through Sunday from 9:00 am until 10:00 pm. Adriana wants to seize the advantage she has, having no competition in the sector where her business will exist.
Adriana is conscious of the fact that in order to advance her business, she must work with enterprise, and discipline, key to making it profitable and survive over time. She wishes to generate an economic stability that will allow her to help her husband with daily sustenance, providing the basic necessities for the home, and leading to a better quality of life and wellbeing.
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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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