Luisa is a 20 year old young woman. She loves decoration, and she has a great talent for art. Ever since she was old enough, she has worked. This is because she needs to contribute to the household obligations and pay for her university studies.
Six months ago she was left without employment. Thanks to a friend’s idea, she started taking advantage of her great talent to work with handicrafts. She is now extremely happy for the opportunity life gave her to be a small businesswoman.
She is looking for a loan to buy a machine she needs to make her product. Her biggest dream is to be able to graduate from the university and to offer her family a better quality of life.
Luisa es una joven de 20 años de edad, amante a la decoración y con un gran talento hacia el arte. Desde que cumplió la mayoría de edad ha laborado, debido a que debe aportar a las obligaciones del hogar y pagarse sus estudios universitarios. Hace 6 mese se quedó sin empleo y gracias a la idea de un amigo comenzó a trabajar con artesanías explotando su gran talento. En la actualidad se siente inmensamente feliz por la oportunidad que la vida de dio de ser una microempresaria. Se encuentra en búsqueda de un préstamo con el que comprará una máquina que necesita para la elaboración de su producto. Su mayor sueño es poderse graduar de la universidad y ofrecerle a su familia una mejor calidad de vida.
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.