Bernarda Del Socorro
She is currently requesting a loan to reactivate the business and purchase merchandise in bulk (blouses, jeans, shirts, tennis shoes and other shoes, perfumes, games, etc.) and to pay off the remaining balance of a current loan. This will allow her to have a wide variety of merchandise to satisfy the demand which grows in the month of December. Her advantage is that she sells the name brand products her clients like, which increases her level of earnings. Bernarda, with her perseverance, charisma and good energy hopes to continue working in her business and continue receiving income to spend as she likes. She would also like to buy an apartment in a good location to spend her old age comfortably, at the side of her husband and her sons.
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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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