Dora, at the age of 29, with the idea of getting ahead, opened a shop where she sells cloth and thread and offers sewing services. She is well-known in the area for her perseverance and drive, always ready with a smile to share with her customers.
Dora would like to buy stock wholesale (cloth, thread, buttons, etc.) with this loan. She will be able to offer her clients a greater variety of good at this holiday season and little by little generate the revenues she needs to fulfill her great dream, to own her own store.
Dora, a sus 29 años de edad, con la idea de salir adelante, abrió un local desde el cual comercializa telas e hilos, y ofrece servicio de confección. Es muy reconocida en el medio por su perseverancia y empuje, siempre con una sonrisa capaz de contagiar a todos sus clientes.
Con el crédito espera poder comprar surtido al por mayor (telas, hilos, botones, entre otros) y, ofrecer en la temporada de fin de año mayor variedad a todos sus clientes, y poco a poco generar los recursos que tanto necesita para poder lograr su sueño anhelado, que es comprar su propio 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.