Rubén Darío is an entrepreneur who has sought out ways to generate income because he has a son that depends on him and he hopes to raise him and provide a better future for him. This is how he’s been working for a year and a half in a new business: a store located in downtown Medellín, Antioquia Department, where he works with dedication to improve his income and to have a better quality of life.
Rubén dreams with converting his store into a minimarket but he’s aware that to do so he must work hard and try even harder each time. For now, he needs a loan to furnish the façade of his store to provide it with an improved appearance to have better presence in the marketplace so that his customers will recognize him and prefer his micro business for being pleasant, for offering a great variety of products and for its kind and effective service.
Ruben Dario es un emprendedor que se ha rebuscado la forma de generar ingresos, pues de él depende su hijo al cual espera sacar adelante y ofrecerle un mejor futuro. Es así como desde hace año y medio decidió emprender un nuevo negocio, una tienda ubicada en el centro del municipio de Medellín en el departamento de Antioquia, donde trabaja con esmero para mejorar su ingresos y tener una mejor calidad de vida.
Ruben sueña con convertir su negocio en un minimercado, pero para ello es consciente que debe trabajar diariamente y esforzarse cada vez más; por ahora necesita de un préstamo para adecuar la fachada de su negocio y así posesionar el negocio dándole mejor presencia al establecimiento, logrando que sus clientes reconozcan y prefieran su microempresa por ser agradable, ofrecer gran variedad de productos y brindar un servicio amable y efectivo.
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.