Luz is a hardworking and charismatic woman. During the day, she works as a domestic employee at private homes. A year ago she also began selling merchandise such as lotions, clothing, and accessories. She learned about this business by working with her sister who has been in this trade for many years.
Luz wants to invest this loan in the purchase of merchandise in bulk such as perfumes, body crèmes, accessories, and clothing. By having a wider variety of products, she will be able to satisfy the tastes and needs of her customers. In the end, she will be able to increase her earnings. Her dream is to open a shop and hire employees. This would enable her to move forward and generate higher profits so that she can provide a better quality of life for her family.
Luz es una mujer trabajadora y carismática, labora por días como empleada doméstica en casas de familia. Hace un año empezó a vender mercancía como lociones, ropa y accesorios. Aprendió del negocio trabajando con su hermana que se dedica a esto hace muchos años. El crédito lo quiere invertir en la compra de mercancía al por mayor (perfumería, cremas corporales, accesorios, ropa en general) y así poder ofrecer mayor variedad de artículos para satisfacer los gustos y necesidades de sus clientes, con el fin de incrementar sus ingresos. Su sueño es montar un almacén y contratar empleados, en el que pueda salir adelante y generar mayor rentabilidad para dar una mejor calidad de vida a su familia.
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.