Rubén had worked with his uncle since he was very young in a butcher shop. He has learned this occupation and enjoys it. Because of this several years ago he decided to have his own business that’s not just a butcher shop but also a fruit and vegetables store.
This business has made it possible for him to support his family which consists of his mother and his son. Rubén needs his business to grow and to have a locale of his own later on and so that his income will rise and he can provide his son with a better quality of life he needs to have more varied stock for his business.
Rubén desde muy joven ha trabajado con su tío en una carnicería y ha aprendido esta actividad y disfruta de ella, es por esto que desde hace varios años él decide tener su propio negocio que no solo es carnicería sino también frutera y legumbrería.
Este negocio le ha permitido mantener a su familia que es su mamá y su hijo, Rubén quiere que su negocio crezca y poder tener más adelante su propio local y para que sus ingresos se incrementen y así le pueda mejorar la calidad de vida a su hijo necesita tener un buen surtido para su negocio.
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.