Maria, 34, is married and is the mother of three children aged 11, 3, and 1 years old. Five years ago, she began her business selling products by catalog in order to generate income to contribute to the household economy. Her main customers are family, friends, and neighbors in the area. She says that the main advantage is that she can be productive without neglecting her children and her home. She is currently seeking the support of this loan to purchase merchandise in bulk such as perfumes, cosmetics, accessories, face and body creams, and more to take advantage of the discounts she gets which will allow her to improve the profit margins for each sales she makes. She will also get to retain more customers because she will be able to deliver their products immediately which encourages their decision to purchase. Maria just wants to continue with her activities to ensure financial stability for her children, allowing her to provide better education and living conditions.
María, a sus 34 años de edad, es casada y madre de tres hijos de 11, 3 y 1 años de edad. Hace 5 años comenzó a realizar la actividad de venta de productos por catálogo, con el fin de generar ingresos para aportar a la economía del hogar; sus principales clientes son familiares, amigos y vecinos del sector y, ella manifiesta que la principal ventaja es que puede ser productiva sin necesidad de descuidar sus hijos y su hogar. Actualmente solicita el apoyo del crédito para comprar mercancía al por mayor (perfumería, cosméticos, accesorios, cremas faciales y corporales, entre otros), para aprovechar los descuentos que obtiene, lo que le permitirá mejorar el margen de utilidades por cada venta que realice, además podrá fidelizar más a sus clientes ya que tendrá el producto para entregarlo inmediatamente, ya que eso estimula la decisión de compra. María sólo desea poder continuar con su actividad para garantizar a sus hijos una estabilidad económica que le permita brindarles mejor educación y mejores condiciones de vida.
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.