Angela is single and has two children, for whom she has to provide sustenance. A number of months ago she began her business of selling food (hot dogs, hamburgers, sausages, etc.). She dreams of having a bigger location that is organized and pleasing to the public. This would call more attention and increase the number of customers. [With the loan] Angela will buy a stock of various products (breads, sausages, meats, etc.). In this way, her sales will increase, representing greater income, with which she will have a better situation for herself and her familiy.
Ángela es soltera y tiene dos hijos por los cuales tiene que velar para un sustento, desde hace varios meses inició su negocio de venta de comidas, (perros, hamburguesas, salchichas, etc). Sueña con tener un local más amplio, organizado, agradable al público, esto llamará más la atención y aumentarán sus clientes. Ángela comprará un stock de diversos productos (panes, salchichas, carnes, etc) de esta forma las ventas serán cada vez mayores representando ingresos mayores con lo cual tendrá un mejor estar para ella y 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.