Aliz is 39 years old and a mother of two, whom she watches over to guarantee them a quality education.
She's been a micro-entrepreneur for six years and her greatest challenge has been to move her family forward. She began selling clothes to her neighbours and relatives and now she counts on a clothes and accessories shop. She is very well-known in the area for her business.
She says that her biggest difficulty has been recovering debts. Today she dreams of upgrading her business premises to increase the sales and improve her income, which will allow her to guarantee her family a better quality of life. This is the reason she is applying for a loan, which she will invest in a shelf and new stock.
Aliz de 39 años de edad, es madre de dos hijos, por lo cuales vela para garantizarles una educación de calidad. Desde hace seis años es microempresaria y su mayor reto ha sido sacar su familia adelante. Comenzó vendiendo ropa a sus vecinos y familiares y hoy cuenta con una tienda de ropa y accesorios. Es muy conocida en el sector por su actividad comercial.
Cuenta que su mayor dificultad ha sido la recuperación de cartera. Hoy sueña con realizar adecuaciones locativas en su negocio para incrementar las ventas y mejorar sus ingresos, que le permitirá garantizarle a su familia un mejor calidad de vida, razón por la cual se encuentra solicitando un crédito que invertirá en la compra de una estantería y nuevo surtido.
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.