Luz is a single mother to two children. She has helped them to get ahead with a lot of effort and dedication.
At 29 years old, Luz works as an independent businesswoman selling fast food. Her business is in a street in the city centre that has many passers-by. Luz works alone from Monday to Saturday, from 10am until 6pm. She has managed to earn enough money to support her household during the seven years that she has been working independently.
With a desire to complement her income, Luz would like to entire the market with a different type of product, particularly sweatshirts, shorts, t-shirts and socks. She is doing this in order to take advantage of the start of the school year, when these products are in high demand. This loan will be used to start this work.
Luz tells us that her greatest desire is to set up her new business well and to be more financially stable in order to provide her children with better well-being and a better upbringing.
Luz es una madre soltera de dos hijos, a los que ha sacado adelante con mucho esfuerzo y dedicación.
A sus 29 años de edad, se desempeña como comerciante independiente, vendiendo comidas rápidas, su negocio está ubicado en una calle muy transitada del centro de la ciudad, trabaja sola de lunes a sábado de 10 am a 6 pm, así ha logrado generar los recursos suficientes para llevar el sustento a su hogar, durante los 7 años que lleva como independiente.
Con el ánimo de complementar los ingresos, desea incursionar en el mercado con otro tipo de mercancía, especialmente sudaderas, shorts, camisetas y medias, esto con el fin de aprovechar la temporada escolar, en la que este tipo de productos es muy solicitado; para ello será utilizado el crédito que solicita.
Luz manifiesta que su mayor anhelo es posicionar mejor su nuevo negocio y generar una mayor estabilidad económica para brindar a sus hijos una mejor educación y bienestar.
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.