After having worked for some of her family members in different businesses, Blanca decided to set up her own store selling basic household products. One of the advantages of her store is that it is located in her home. This allows her to look after her children and provide them with more attention.
Bearing in mind the fact that the end of the year is approaching, Blanca needs a loan to buy different products which will allow her to improve her sales.
Después de trabajar para algunos familiares en diferentes negocios, decidió crear su propia tienda de venta de productos de la canasta familiar, una de las ventajas de su tienda es que ésta se encuentra ubicada en su casa, lo que le ha permitido estar al frente de sus tres hijos para brindarles mayor atención.
teniendo en cuenta que se aproxima la temporada de fin de año, Blanca necesita de un préstamo para comprar diferentes productos que le permitan mejorar sus ventas.
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.