A lack of resources for continuing his studies has motivated Eduard Yesid R. R. to bring his business to life. Motivated by the will to get ahead and by the need to contribute toward the expenses of the home, this enterprising young man decided to begin to sell products through a catalog to his friends, neighbors, and acquaintances. However, his aspirations extend further and in the future he hopes to have a big department store that will be well-recognized. Right now he is beginning to take the first steps toward fulfilling his dream. Eduard needs a loan to buy a display cabinet and his first products to sell. In this way, little by little, he will build his future.
La falta de recursos para continuar con sus estudios motivó a Eduard Yesid R. R. a darle vida a su propio negocio. Motivado por las ganas de salir adelante y por la necesidad de contribuir a cubrir los gastos del hogar, este joven emprendedor decidió empezar a vender productos por catálogo a sus amigos, vecinos y conocidos, pero sus aspiraciones van allá pues en el futuro espera tener un gran almacén que sea reconocido.
Por ahora y empezando a dar los primeros pasos para cumplir sus sueño, Eduard necesita de un préstamo para comprar una vitrina y sus primeros productos para la venta, así irá construyendo paso a paso su futuro.
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.