Clara Alicia is 28 years old and has a small store that she started with her own savings less than a year ago, after seeing the need to provide this service to her neighbors who needed a store close to their homes. Clara Alicia needs to buy an assortment, such as cooking oil, brown sugar, rice, coffee, soft drinks, and snacks for her store, so that she can meet her customer demand and offer them better service. This will also allow her to increase her sales and income, and improve her family’s quality of life. Clara Alicia’s dream is to have a leading business in the sector and be able to provide excellent customer service.
La señora Clara Alicia a sus 48 años es propietaria de una pequeña tienda que inició con sus propios ahorros hace menos de un año cuando vio la necesidad de prestar este servicio a los vecinos de su barrio quienes necesitaban tener una tienda cerca de sus hogares. La señora Clara Alicia requiere de la compra de surtido para su tienda tal como aceite, panela, arroz, café, gaseosas y snacks, que le permitan suplir la demanda de sus clientes y ofrecer un mejor servicio. Lo anterior, le podrá generar a la señora Clara Alicia mayores ventas y aumentar sus ingresos y así mejorar la calidad de vida de su familia. El sueño de la señora Clara Alicia es llegar a tener un negocio líder en el sector y poder prestar un excelente servicio a sus clientes.
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.