Jorge Orlando lived in the streets during his youth and supported himself any way he could. However with the passage of time Jorge managed to establish himself and now has a sausage shop. He wants to stock it better and also start a new, fast food, business in order to provide employment for two of his sisters who haven’t been able to find stable work for quite some time.
Jorge Orlando vivió durante su juventud en las calles y se sostuvo trabajando en lo que fuera, sin embargo con el paso del tiempo Jorge logró establecerse y actualmente tiene una charcutería y quiere tener un mejor surtido en su negocio además de poder montar uno nuevo de comidas rápidas para darle empleo a 2 de sus hermanas que lleven mucho tiempo sin poder establecerse en un empleo estable.
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.