Francely, 27, is the single mother of a daughter, 3. She decided to start her own business because of a lack of job opportunities. She sells a variety of items such as handicrafts, cards, ceramic candles, mobile phone minutes, and food like fruit salad. Her business is very well located half a block from the municipal park in the town where she lives, so she has had good sales results.
Currently she's requesting the loan to make improvements on her work tools (fix the refrigerator and put glass covers on the display case) so the fruit won't spoil.
With this she'll be able to provide continuity for her business and keep growing to realize her dream of giving her little daughter greater well-being and a better quality of life.
Francely, a sus 27 años de edad es madre soltera de una hija de 3 años. Por falta de oportunidades de empleo, ella decide iniciar su propio negocio donde ofrece diversidad de artículos como artesanías, tarjetas, velas cerámicas, minutos a celular y alimentos como ensaladas de frutas, su negocio se encuentra muy bien ubicado ya que está a media cuadra del parque principal del pueblo donde reside, por lo cual ha tenido buenos resultados en ventas. Actualmente solicita el crédito para realizar mejoras en las herramientas de trabajo (arreglar nevera, poner tapas de vidrio al exhibidor) para evitar que le dañen las frutas. Con esto podrá darle continuidad a su negocio y tendrá la posibilidad de seguir creciendo para cumplir el sueño de darle un mejor bienestar y calidad de vida a su pequeña hija.
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.