Juan Orlando has sold fruit for many years. Juan learned this business from his father who supported their whole family this way. Juan Orlando has his business in front of his house and he needs a loan so he can expand it. He will buy legumes and a variety of products to diversify what he sells which will enable him to gain more customers. He has supported his family with this business and provides them a good life.
Juan Orlando desde hace muchos años trabaja en la venta de frutas, esta labor la aprendió de su padre, ya que gracias a este negocio su padre sacó adelante toda su familia.
El negocio de Juan Orlando se encuentra ubicado en el andén de su casa y para poder ampliarlo necesita un crédito que le permita comprar legumbre y así tener diversidad de productos y nuevos clientes.
Con su negocio él ha podido tener el sustento diario de su familia y les puede brindar un buen una buena calidad de vida.
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.