At 47 years old, Julio is considered a very enterprising man who saw the need to generate income for his family, and this is how his business was born. Julio sells fruit and vegetables on the streets of the city of Medellín in Antioquia, where he strives to provide friendly service and offer high quality produce at good prices.
These days, Julio needs investment capital to buy an umbrella to protect him from the weather and prevent his produce from deteriorating in the sun or rain. He also wants to supplement his business by buying a wider variety of products, and thus generate more income to improve the quality of life for himself and his son, but at the moment he does not have the money to make such purchases. Julio has dreams of owning a bigger business with which to he can create jobs and help more people to improve their quality of life.
A sus 47 años de edad Julio se considera un hombre muy emprendedor quien vio la necesidad de generar ingresos para su familia, y es así como nace su negocio, Julio vende frutas y verduras en las calles de la ciudad de Medellín en el departamento de Antioquia, allí procura prestar un servicio agradable y ofrecer productos con muy buena calidad y buenos precios.
Hoy en día Julio necesita un capital de inversión con el cual comprar una sombrilla que lo proteja del clima y evite que sus frutas se vayan deteriorando ya sea con el sol o la lluvia, igualmente quiere surtir su negocio comprando mas variedad de productos los cuales le generen mas ingresos y así pueda mejorar su calidad de vida y la de su hijo, sin embargo en este momento no cuenta con el dinero para realizar dichas compras. Sueña con llegar a tener un negocio más grande con el cual poder generar empleos y ayudarle a más personas a mejorar su calidad de vida.
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.