Public order problems in the neighborhood of Medellín in which Blanca Luz lives haven't stopped her from getting ahead in her business renting washing machines. She has been in this business for some time, together with one of her four children.
In the future, this entrepreneur dreams of having more space which will allow her to have more washing machines and create work for people from her area. Right now, she needs a loan to buy three washing machines which will allow her to offer her services to more people and thereby improve her income.
Los problemas D. orden público que se han vivido en el barrio D. Medellín en el que vive Blanca Luz no han sido impedimento para que siga adelante con su negocio D. alquiler D. lavadoras que desempeña desD. hace algún tiempo con la colaboración D. uno D. sus 4 hijos.
En el futuro esta emprendedora sueña con un espacio más amplio que le permita tener más lavadoras y generar empleo a personas D. la zona y para lograrlo poco a poco, por ahora necesita D. un préstamo para comprar 3 lavadoras lo que le permitirá ofrecer sus servicios a más personas y así mejorar sus ingresos.
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.