Ever since he was seven years old Saúl Alejandro D. O. has known what is is to earn a living by working. He was raised by his grandmother because his parents abandoned him when he was very little. This situation kept him from getting an education. Work was his priority so that the family was able to have their daily bread.
Saúl has been working twelve years selling juice in the Medellín Plaza Minorista sector. He mainly sells to the drivers in the sector who recognize the quality of his product. He is requesting a loan to be able to diversify his products so that he will be able to increase the sales in his business.
Saúl needs the loan to support the improvement to his business, which will positively influence his quality of life.
Saúl’s dream is to have his own house. He is convinced that through the loan, which will increase his business, he will soon be able to make his dream come true.
Desde muy niño, a partir de los 7 años, Saúl Alejandro D. O. ha sabido lo que es ganarse la vida gracias al trabajo. Fue criado por su abuela debido a que sus padres lo abandonaron cuando era muy pequeño, situación que le impidió estudiar, puesto que el trabajo era su prioridad para poder tener el sustento diario para su familia.
Desde hace 12 años, Saúl trabaja en el Sector de la Plaza Minorista de Medellín vendiendo jugos, principalmente a los conductores del sector quienes reconocen la calidad de su producto. Para poder diversificar sus productos y para que su negocio pueda incrementar sus ventas, Saúl necesita un crédito que apoyará el mejoramiento de su negocio y que, por tanto, incidirá positivamente en su calidad de vida.
El sueño de Saúl es tener su casa propia y a través del crédito, que propiciará el crecimiento de su negocio, está convencido de que pronto lo podrá hacer realidad.
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.