Her drive, carefulness and passion for what she does have allowed her to make progress and, little by little, she has managed to increase her clientele. For this reason she is keen to request the loan in order to invest it into buying goods, specially brought in from the US and Panama, as she wants to start her own store in her home. She can procure garments and various goods at the lowest cost from these countries, such as blouses, shirts, tennis shoes, bags and perfume. This permits her to increase her profit margin on each sale, and also she has the opportunity of providing a better service to her customers, especially at Christmas, when people look for all sorts of things as presents.
Maria says that she will continue working with dedication and care to carry on growing her capital and thus to be able to go on contributing to the family economy. In this way they have been able to provide a good education for their son and offer him a better way of life.
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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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