Luz is the mother of two children. She has a fast food stand that she established some time ago when her husband lost his job. This enabled her to help with the household expenses. At first she was only open on the weekends. Now she starts her business on Thursdays at the request of her customers and has achieved very good results.
Luz will invest her loan in the purchase of an industrial deep fryer, tables, and chairs. This will enable her to provide faster service to her customers, grow her business, and continue building her reputation.
Luz dreams of quitting her current job so that she can sell fast food full-time from an established location. As a result, she can improve her family’s income.
Luz, madre de dos hijos, tiene un puesto de venta de comidas rápidas, que inició hace un tiempo, cuando su esposo perdió su empleo, con el fin de ayudar con los gastos del hogar. Inicialmente abría solo los fines de semana, pero atendiendo el pedido de sus clientes, actualmente abre desde los jueves y ha tenido muy buen resultado. Por lo que va a invertir su crédito en la compra de una freidora industrial, mesas y sillas y poder atender con mayor rapidez a los clientes de su negocio en crecimiento y seguir acreditándolo.
Luz sueña con dejar su empleo actual, para dedicarse por completo a la venta de comidas rápidas y poder establecerse en un local, así como mejorar sus ingresos familiares.
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.