María is a charismatic and kind person. She is known in her community for being a nice person and for her hard work. For the past 3 years she has been selling products from catalogs and movies on DVD. Her main clients are family members, neighbors, and friends from the neighborhood. This is how she earns enough to contribute to her household’s income.
With the idea of strengthening her business, she is requesting a loan to increase the exhibition space for her products and to buy merchandise at wholesale prices (perfumes, cosmetics, accessories, body lotions, face lotions, etc., among other things). This will allow her to offer a greater variety of items and provide better service to her customers, which will help her increase her sales and the income that her business generates.
María explains that her 61 years don’t keep her from fighting for her dreams and she works hard to achieve them. She wants to open a store where she can offer all of her products and have improved profitability, so that she can continue helping her husband with the household costs and enjoy a better quality of life and a relaxed old age.
María es una mujer carismática y gentil, reconocida en su comunidad por su don de gentes y por su labor, pues desde hace 3 años se dedica a vender productos por catálogo y películas de DVD, sus principales clientes son familiares, vecinos y amigos del sector y, de esta forma genera los recursos suficientes para aportar a la economía del hogar.
Con el ánimo de fortalecer su negocio, solicita el apoyo del crédito para ampliar el espacio de exhibición de sus productos y comprar mercancía al por mayor (perfumería, cosméticos, accesorios, cremas corporales y faciales, entre otros), esto le permitirá ofrecer mayor variedad de artículos y podrá atender mejor a sus clientes, logrando aumentar las ventas y los ingresos que su actividad le genera.
María manifiesta que sus 61 años de edad, no le impiden seguir luchando por sus sueños y por ello se esfuerza para lograrlos, pues desea abrir un local en el que pueda ofrecer todos sus productos y le genere una mayor rentabilidad, para así continuar apoyando a su esposo con la carga económica del hogar y disfrutar una mejor calidad de vida y una vejez tranquila.
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.