Luz Margarita reopened her store five months ago, but she lacks the capital to offer her customers a wide variety of products. For this reason, she is now seeking the opportunity to access a loan so that she can buy household products to restock her store and provide her customers with a greater variety of products. This will increase her sales considerably. As a result, her store will continue to grow gradually and return to the successful business that it once was. Her family will also enjoy a good quality of life and greater financial opportunities to make progress.
De esta manera su negocio seguirá creciendo poco a poco y retomará el gran negocio que tenía antes, de modo que su familia podrá seguir gozando de una buena calidad de vida y mayores oportunidades económicas para progresar.
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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