Sr. Randoll is a young man who is 21 years of age and likes to sing hip hop music while he manages his own vending post outside of a school where he sells all types of merchandise such as women’s accessories, stationery, and other items. He wants to succeed and begin his music studies, but he needs to buy merchandise so that he can restock his business for the year-end season in order to increase his sales, improve his quality of life, and pursue his dream of becoming a famous singer. Randoll also wants to own a variety store.
El señor Randoll es un joven de 21 años de edad a quien le gusta cantar música hip hop e integra esta actividad con su propio puesto a la salida de un colegio en el cual vende todo tipo de variedades tales como accesorios femeninos, papelería, entre otros artículos. El señor Randoll desea salir adelante y emprender sus estudios de música, para lo cual requiere de la compra de mercancía que le permita surtir su negocio para la temporada de fin de año y de esta manera además poder aumentar sus ventas, mejorar su calidad de vida y alcanzar su sueño de ser un gran cantante y tener su propio almacén de variedades.
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.