Little working capital, business premises located in his parents' home and a desire to get ahead and offer his neighbors a quiet place where they could enjoy a soft drink or a beer were what motivated Jaime to give birth to his own business, a delicatessen which, thanks to his commitment, has gradually grown.
In the future, Jaime hopes to expand his business and position it even better in the sector. This 55 year-old entrepreneur, who is from Medellín in Colombia, currently needs a loan to buy basic household products so that he can sell other types of product.
Poco capital de trabajo, un local ubicado en la casa de sus padres y las ganas de salir adelante y de ofrecerle a sus vecinos un lugar tranquilo donde tomarse un refresco o una cerveza, fueron lo que motivó a Jaime a darle vida a su propio negocio, una salsamentaria que poco a poco y gracias a su dedicación ha ido creciendo.
En el futuro Jaime espera ampliar su negocio y posicionarlo aún más en el sector. Actualmente este emprendedor de 55 años oriundo de Medellín-Colombia, necesita de un préstamo para comprar surtido propio de la canasta familiar y así ofrecer otro tipo de productos.
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.