In 2011, Nubia began selling merchandise such as clothes, shoes, accessories, and other products through catalogs. This business has given her the opportunity to keep her household on track and to take care of her children. She is an enterprising woman who has the drive to succeed. For this reason, Nubia is requesting her fifth loan from Interactuar. She wants to invest in the purchase of merchandise and products in bulk (clothing, accessories, perfumes, cosmetics, and other items) so that she can take advantage of the discounts being offered. This will give her a wider variety of products to offer to her customers, thereby improving her sales.
Nubia dreams of growing her business and converting it into a retail shop. This would generate more income so that she can provide a better education for her children and an improved quality of life for her entire family.
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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