One December, Oscar traveled to Medellín to visit his sister. She asked him to help her with her business, located in the center of town, as a merchant. For him, it was an excellent experience and he decided to stay in Medellín to start his own business.
For 8 years, he has had a stand selling gadgets that has allowed him to support his son and provide him with everything he requires for his education and personal needs.
He wants to have a larger supply for his business, so it will look nicer and also allow him to offer a greater variety of products to his customers.
Oscar en un diciembre viaja a Medellín a visitar a su hermana y ella le pide que le ayude en su negocio que queda en centro como vendedor, para el fue una excelente experiencia y decide quedarse en Medellín y montar su propio negocio.
El desde hace 8 años el tiene un puesto de venta de cacharro que le permite sostener a su hijo y darle todo lo que necesita para su estudio y sus necesidades personales.
El quiere tener un mayor surtido para su negocios para que se pueda ver mas bonito y además así le puede ofrecer mas variedad de productos para sus clientes.
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.