She lives in a rural area in the town of Montería and has a small business selling cell-phone minutes and fried foods and snacks. It's a very small business, but has the advantage of being very well located, which has given her constant sales.
Mileydis is asking for a loan to buy a selection of fried foods so she has a wide variety of products for her customers.
She's a sensible woman who's very focused on her goals. The only thing she wants is to be able to expand her store and serve more customers.
Ella vive en zona rural del municipio de Montería. Allí tiene montado un pequeño negocio de venta de minutos a celular y venta de frituras y golosinas.
Es un negocio muy pequeño pero tiene la ventaja de estar muy bien ubicado, esto ha hecho que sus ventas sean constantes.
Acude a un préstamo para la compra de surtido de frituras y así poder tener una amplia variedad de productos para sus clientes.
Es una mujer juiciosa y muy enfocada en sus objetivos.
Por lo pronto lo único que quiere es poder ampliar su negocio y extender sus servicios a más clientes.
More information about this loan
By funding this loan, you are promoting entrepreneurship in remote regions, including areas recovering from guerilla warfare in Colombia, and helping to reverse the rural exodus which occurred in the past decades when a the rural population fled their countryside homes for the safer cities.
This Kiva loan was created by Kiva's field partner Interactuar specifically for Kiva funding, in an effort to reach more borrowers in rural areas. Most of the Interactuar's lending operations are focused in urban parts of Medellin. But this loan product is designed to provide working capital to riskier agricultural businesses who have been traditionally excluded from the finance sector.
Important InformationThis 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.
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