Julia is 51 years old and lives with her partner in a rural area in the northern part of the department. Several years ago, she began selling in the streets. She has slowly grown her sales to the point that today she has a stand in the main park in her region where she distributes a variety of products such as coffee, pastries, cell phone credits, and sales from catalogs. Julia dreams of expanding her business and having a great assortment to offer her customers, taking advantage of the diversity of the marketplace that is in a central and busy area. She has made this loan application which she will use to buy a range of products (pastries, sweets, coffee) for her business to have a large stock of goods, generating higher profits and improving her quality of life. She would like to help in the upbringing of her grandchildren who are in a difficult economic situation, a social problem that exists in this region.
Julia de 51 años de edad, vive con su compañero, habitan en zona rural al norte del departamento, desde hace varios años emprendió con ventas en la calle y poco a poco ha ido creciendo sus ventas al punto que hoy día tiene una chaza en el parque principal de su región en la cual distribuye una variedad de productos como tinto, mecatos, minuto a celulares, ventas por catálogo. Julia sueña con ampliar su negocio y tener mucho surtido, para ofrecer a la diversidad de clientes aprovechando el lugar de trabajo que es zona céntrica y muy concurrida, hace la solicitud del crédito el cual utilizará para comprar surtido (mecato, dulces, café) para su negocio y tener un amplio stock de mercancía, generando mayores ganancias y mejorando su calidad de vida, poder ayudar en la crianza de sus nietos que están en una difícil situación económica por la problemática social que se vive en esta región del país.
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.