Gloria is 27 years old and has a minor-aged boy. She is a woman characterized by her tenacity and drive. Due to her partner's unemployment and their difficult economic situation, she saw a need to undertake something that could provide an independent source of income. Four years ago she began selling fried food and other food at her in-laws' house. Gloria dreams of having a larger and better-recognized business and installing a second business at her mother's house. She requested this loan with the intention of improving the business and buying supplies and tools for the preparation of her products. She offers high quality and energetic customer service.
Gloria, de 27 años con un niño menor de edad, es una mujer que se caracteriza por su tenacidad y empuje, debido a la difícil situación económica y por desempleo de su pareja, se vio en la necesidad de emprender algo que le brindara ingresos de forma independiente, hace cuatro años empezó a vender comidas y fritos en la casa de sus suegros. Gloria sueña con tener un negocio más amplio y reconocido, colocar un segundo negocio en la casa de su madre, Solicitó este crédito con el fin de mejorar el negocio y comprar insumos e implementos para la elaboración de dichos productos. Brindar a sus clientes un servicio activo y de mucha calidad.
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.