Fanny is a young businesswoman who is currently working in bakery and pastry making along with her husband, who has known the business for several years. They sell their products in shops which they have had an agreement with for some time, as well as selling to neighbours and family members.
Fanny plans to use her loan to buy a rolling machine and raw materials in larger quantities so she can get a discount. The purpose of this is to increase her production and make a bigger profit.
Her dream is to increase the size of her business and have bigger premises outside of her home, and to improve her income.
Fanny es una joven emprendedora dedicada actualmente a la actividad de la panadería y repostería en compañía de su esposo, quien conoce desde hace varios años la actividad. Los productos los venden en tiendas con las cuales tienen acuerdos hace un tiempo y también entre sus vecinos y familiares.
Fanny pretende invertir su crédito en la compra de una máquina cilindradora y la materia prima en cantidades más grandes y así obtener un descuento, con el fin de obtener mayor ganancia y sacar mayor producción. Su sueño es agrandar su negocio y tener un local más grande por fuera de las instalaciones de su casa y mejorar sus ingresos.
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.