Sandra, 31 years old, is a woman who, since adolescence, has been passionate for business. She says that when she was in college, she sold sweets to the class. She always dreamed of having her own business, but she didn't have the resources for her project. Because of this, when she finished her bachelor's degree, she started working in the confectionery sector. She worked there for several years and later quit, tired of being exploited by her superiors. With the settlement, she started selling clothes to her family members and neighbors, and later, because of the profitability of the business, decided to open a shop. Now she offers stationery services, ice cream, and clothing sales. Her biggest wish is to solidify her business, which is why she is requesting a loan that she will use to purchase school supplies for the start of the year.
Sandra de 31 años de edad es una mujer que desde su adolescencia se apasionó por los negocios, cuenta que cuando estudiaba en el colegio era la vendedora de dulces de la clase. Siempre soñó con tener su propio negocio pero no contaba con los recursos para su proyecto, por lo cual al terminar sus estudios de bachillerato se empleó en el sector de confección, allí laboró por varios años y luego renunció cansada de la explotación que recibía por parte de sus superiores. Con la liquidación comenzó vendiendo ropa a sus familiares y vecinos y luego con la rentabilidad del negocio decidió colocar un local. En la actualidad ofrece servicio de papelería, helados y venta de ropa. Su mayor deseo es acreditar su negocio, por lo cual se encuentra solicitando un crédito con el que comprará artículos escolares para la temporada de principio de año.
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.