Yurfay Issadi’s story
Yurfay is 27 years old and lives in the municipality of Taraza. She has a son and is pregnant with her second, and she feels like the happiest woman on earth because soon her new child will arrive. She has had a beauty salon since 2010, and she wants it to be successful.
She dreams of one day leaving her business to her children because she wants to make sure they are going to have an amazing life. She’s asking for a loan to buy a hair washing machine, a mirror, and a chair for cutting hair.
Support this amazing mother and loan now.
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This loan is special because:
More about this loan
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.