At 21 years old, Dairon is a young entrepreneur who with the help of his mother, a few months ago started a business selling ice cream and juices, which he hopes will allow him to improve quality of life for himself and his family.
Dairon is empirical, and didn’t know anything about this business, but ever since he was small he has worked by his mother’s side in a vegetable shop, where he now works only part time in order to dedicate the remaining time to his owns sales.
In the future this entrepreneur hopes to have a large store that will be known throughout the sector, and also to be able to offer other products. For now, he needs a loan to make some adjustments to his shop so that his business is more attractive, and to buy some tools that he still needs.
A sus 21 años de edad, Dairon es un joven emprendedor que con la ayuda de su madre inició hace pocos meses un negocio de venta de helados y jugos que espera le permita mejorar su calidad de vida y la de su familia.
Dairon es empírico y no sabía nada de este negocio pues desde pequeño ha trabajado al lado de su madre en una legumbrería en la que actualmente trabaja medio tiempo para dedicar el tiempo restante a su punto de venta.
En el futuro este emprendedor espera tener un local amplio que sea reconocido en el sector y que además pueda ofrecer otros productos; por ahora necesita de un préstamo para realizar algunas adecuaciones locativas para hacer más atractivo su negocio y comprar algunos utensilios que todavía le hacen falta.
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.