Julieth is a young single mother who is the head of household of her 7 year old son. To generate the income required to sustain the expenses of her household, she has a business selling clothes that has allowed her to support themselves.
In spite of not having large financial resources, her business has allowed her to slowly overcome the great difficulties she faces. That is why she always strives to grow her finances and this could improve the quality of life of her home. Seeking to overcome the difficulty of capital in your business, Julieth is seeking a loan to buy an assortment of clothing and thus respond to large orders from customers.
Her dream is to have better income to provide a better quality of life and access to better education for her child.
Julieth es una joven madre soltera cabeza de familia de su hijo de 7 años de edad, y para poder generar los ingresos que requiere para el sostenimiento de los gastos de su hogar tiene un negocio de venta de ropa que le ha permitido sostenerse económicamente. A pesar de que no goza de unos grandes recursos económicos, su negocio le ha permitido poco a poco ir superando las grandes dificultades que se le presentan y es por esto que siempre se esfuerza para hacerlo crecer y que este le permita mejorar la calidad de vida de su hogar. Buscando superar la dificultad de capital en su negocio, Julieth busca un préstamo para comprar surtido de ropa y así responder a los grandes pedidos de sus clientes.
Su sueño es poder tener mejores ingresos para poder ofrecerle una mejor calidad de vida y el acceso a una mejor educación a su hijo.
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.