Alba lives with her common-law husband and young son. She used to run a sewing business but ran into economic difficulties when customers did not fulfill their payment commitments. She decided to go into another business and now sells breakfast food and corn tortillas from home. She uses her own refrigerator for the business but it does not have enough storage capacity. Alba dreams about opening an independent shop away from her home, so she is requesting a loan. She plans to buy a cooler and a variety of different products to carry out her activity (corn tortillas, chicken, pork, sauces, etc.). By giving her customers what they want, she will increase sales and income and be able to improve her quality of life.
Alba, vive en unión libre y tiene un hijo menor de edad, ella tenía unas confecciones a terceros y en vista del incumplimiento de sus pagos tuvo inconvenientes económicos y decidió cambiar de actividad desde su casa vendiendo desayunos y arepas rellenas de diversas carnes, pero ella usa la nevera de su casa y no tiene buena capacidad de almacenamientos, Alba sueña con tener su negocio en un local independiente de su casa y por ello recurre a la Corporación para la solicitud del préstamo, con el cual comprará un enfriador y se surtirá de los diferentes productos para el desarrollo de su actividad ( arepas, carnes de pollo, cerdo, salsas, etc) dando gusto a su fiel clientela con lo cual aumentarán las ventas y sus ingresos y asi mejorar su nivel y calidad 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.