A small juice stand was what this self-motivated woman of 33 years named Yoladis managed to launch with a lot of effort. She was looking for an alternative to generate income and had the idea to open this business.
Today, her business is being affected by the insecurity and violence occurring in her area, and her customers are dwindling in these times of crisis. She is requesting a loan from Interactuar so that she can have working capital to invest wisely in this difficult time. She will buy fruit at wholesale, like oranges. Yoladis hopes to succeed in overcoming this crisis and enjoy a future at the side of her husband and their two children.
If you want to know more about the entrepreneurs and the loans from Interactuar, you can join the Lending Team called: “Friends of Interactuar Colombia”: http://www.kiva.org/team/interactuar_colombia
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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.