Juliana is a 20 year-old youth. She is creative and entrepreneurial. She signed a contract two years ago with a multinational corporation to sell and distribute a great variety of toiletries and beauty products. She had various challenges such that she didn't meet her sales goals, but today her group representation has grown. Juliana dreams of finishing University and also being a great salesperson that can rise in her profession. She is requesting a loan to acquire merchandise, having a large stock to meet requests most importantly in the busy season, with which she will could earn more money, enabling her to finish her studies fully.
Juliana es una joven de 20 años, es creativa y emprendedora, desde hace dos años firmó contrato con una empresa multinacional para vender y distribuir una gran variedad de productos de aseo y belleza, tuvo varios inconvenientes por las ventas que no habían alcanzado metas, pero en la actualidad su grupo ha crecido representativamente, Juliana sueña con terminar la Universidad y también ser una gran vendedora que pueda escalar en lo profesional, solicita el crédito para adquirir mercancía, teniendo un stock amplio para suplir los pedidos sobre todo en las temporadas importantes, con lo que ganaría más dinero, sosteniendo su estudio para terminarlo a cabalidad.
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.