Yulieth, who is 20 years old, is a young mother with a two-year-old son. She lives with her father in a rural area and currently makes a living selling clothing as a street vendor to neighbours in the areas near her home. After leaving her son in a nursery, she goes out visiting customers to make her sales.
She wants to use the loan to buy more merchandise (jeans, t-shirts, blouses and other items) and have more variety to offer her customers. Her objective is to improve her income so she can give her baby son better living conditions.
Her dream is to finish her secondary education and make progress in life with her son.
Yulieth es una joven de 20 años madre de un hijo de dos años; vive con su padre en una zona rural y quien actualmente se dedica a la venta de ropa de manera ambulante a los vecinos de las veredas cercanas a su vivienda. Ella luego de dejar a su hijo en la guardería, se dirige a visitar a sus clientes para hacer sus ventas; quiere invertir el crédito en la compra de más mercancía (jeans, camisetas, blusas, entre otros) y tener más variedad para ofrecer a sus clientes, con el objetivo de mejorar sus ingresos y poder darle a su bebé mejores condiciones de vida. Su sueño es terminar la secundaria y salir adelante con su hijo.
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.