At 45 years of age, Jesús Antonio is a man who is devoted to his family. He is a tireless worker and an exemplary entrepreneur. He has owned his own business for years. His business is a bakery which he set up with the hope of getting his family ahead in life, becoming independent and making good income with which to cover the financial needs of his family. His bakery is currently a family business. His eldest son works there and he hopes that, in the future, his business will be the best inheritance he can give to his children.
Jesús Antonio hopes to expand his business, to have more productive capacity and, at the same time, to offer the best quality on the market. However, he needs to buy supplies for making and preparing his products, such as flour, sugar, eggs and other supplies which are essential for his products to be delicious. He does not have the capital he needs to invest in his business and so he is requesting a loan to buy these supplies, improve his sales, increase his income and improve his quality of life.
A sus 45 años de edad Jesús Antonio es un padre consagrado a su familia, un trabajador incansable y un emprendedor ejemplar, desde hace años tiene su propio negocio, una panadería que inició con la ilusión de sacar a su familia adelante, ser independiente y generar buenos ingresos para las necesidades económicas de su familia. Actualmente la panadería es una empresa familiar, allí trabaja su hijo mayor y espera que en un futuro su negocio sea el mejor legado que sus hijos tengan de él.
Jesús Antonio espera ampliar su negocio, tener más capacidad productiva y paralelamente la mejor calidad del mercado, sin embargo necesita comprar insumos para la producción y preparación de los alimentos como: harina, azúcar, huevos y otros que son indispensables para que los productos queden esquicios, y él no cuenta con el capital necesario para invertirle a su negocio, por lo que solicita un préstamo con el cual comprar dichos insumos, mejorar las ventas, incrementar sus ingresos y 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.