Marelby Del Socorro
With her enterprising, energetic, and positive attitude, she wants to start her own business, a fast-food stall where she'll work on the weekend from 5 p.m. until midnight. She hopes to earn a better income to support her family.
So her business idea will work, she's requesting a loan for help in buying fixed assests (a griddle, a cart, a canopy, kitchen utensils, and a refrigerator) for 1,000,000 pesos [COP] and supplies (cold cuts, bread, sauces, soda) for 500,000 pesos. This way she'll be able to offer her customers a variety of products to satisfy their tastes. She hopes to make progress and get her family ahead.
Marelby dreams of making her business grow, setting it up in her own space to give work to other people. She also dreams of improving her income and achieving economic stability so she can improve her quality of life.
More information about this loan
By supporting this loan, you're helping a borrower launch a new business!
This loan is designed for an entrepreneur who needs working capital to start a brand new business. Along with the loan, Kiva's field partner Interactuar provides counseling, training courses, and other financial resources to help new, riskier entrepreneurs set up young businesses.
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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