To organize her business well, to expand it and to turn it into a big store is the dream of María Isabel R. D., who has been selling merchandise from her premises for 10 years. At the same time, she also helps her husband make fried food which they distribute to cafeterias. This has enabled them to make good income for their family. Although her workdays are long, this entrepreneur works hard every single day to get ahead.
María Isabel needs a loan to buy merchandise and increase the variety of products she sells.
Organizar muy bien su negocio, ampliarlo y convertirlo en un gran almacén, es el sueño de María Isabel R. D. quien desde hace 10 años vende mercancía en su local, al mismo tiempo le ayuda a su esposo a la elaboración de fritos que distribuyen para diferentes cafeterías lo que les ha permitido tener mejores ingresos para su familia, aunque son largas las joranadas laborales, esta emprendedora lucha día a día para salir adelante.
María Isabel necesita de un préstamo para comprar mercancía y aumentar la variedad de productos.
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.