Funded

Total loan: $650

Neivis

A loan helped to purchase materials in bulk with the loan she is requesting from Corporación Interactuar.

Neivis's story

Neivis is 25 years old, does not have children, and her business is making crafts. She has tremendous skill and is an enterprising, hard-working and tenacious person. She has her business in the municipality of El Carmen De Bolívar.

Her business is successful because she has vast experience. The advantage of her business is that she has sales in bulk and strong seasons, the disadvantage is the lack of working materials.

Her dream is to improve her craft shop. She wants to purchase materials in bulk with the loan she is requesting from Corporación Interactuar.

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."

Translated from Spanish by Kiva volunteer Wendy H. View original language description.

Neivis tiene 25 años de edad, no tiene hijos y su negocio es la fabricacion de artesanias. Tiene enormes capacidades, es una persona emprendedora, trabajadora y tenaz, su negocio lo realiza en el municipio de El Carmen De Bolívar. Su negocio tiene éxito porque tiene vasta experiencia. La ventaja de su negocio es que cuenta con ventas por mayor y temporadas fuertes, la desventaja es la falta de material de trabajo. Su sueño es mejorar su taller de artesanías, desea comprar materiales al por mayor con el crédito solicitado en la Corporación Interactuar.

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."

This loan is special because:

It provides young entrepreneurs in Colombia resources to grow their business.

More about this loan

This loan helps a Colombian borrower between the ages of 18 and 25 who may lack business experience and an established credit history gain access to financial services. By supporting this loan, you are expanding opportunity for a young person in Colombia with limited resources.

About Interactuar:

If this loan is structured on Kiva as a bullet loan (which means a single payment is required at the end of the loan term), it is because Interactuar sometimes has to offer borrowers loans with a variable interest rate that fluctuates with the market rate. In these cases, 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.