Gladys is a woman who has had a business plan for a long time. She has been trained in beauty academies. She began her salon in her home more than eleven years ago. At the moment, her primary dream is to be able to have the capacity to expand her business and be able to provide employment to other people, above all during special seasons when work increases.
Gladys is requesting the loan to improve the beauty salon and provide her customers with a comfortable and pretty place. She will also supply her stock purchasing dyes, shampoo, nail polishes, and products with known brands to sell directly to the customers, etc. With all of these renovations and improvements, her income will increase favorably, allowing her a better quality of life.
Gladys, es una mujer con proyección empresarial desde hace mucho tiempo, se ha capacitado en academias de belleza, lleva más de once años de haber iniciado con su peluquería en la casa, por el momento su sueño primordial es poder tener la capacidad de ampliar su negocio, y poder brindar empleo a otras personas, sobre todo en temporadas especiales donde se incrementa el trabajo. Gladys solicita el préstamo para hacerle mejoras al salón de belleza y brindarle a su clientela un lugar cómodo y bonito, también surtirá su stock comprando (tintes, shampoo, esmaltes, y productos de marcas reconocidas para vender directamente a las clientes, etc) con todo esta renovación y mejoras sus ingresos se aumentarán favorablemente permitiendo una mejor calidad de vida.
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.