El señor Adolfo a sus 46 años de edad es un emprendedor quien de manera empírica y sin experiencia alguna buscando mejorar su calidad de vida, elige construir con mucho esfuerzo y disciplina un pequeño apartamento en su casa familiar, con el fin de independizarse y así en éste lugar inicar su propia barberia con venta de mercancía tal como lociones y prendas de vestir. El señor Adolfo requiere de la compra de mercancia para surtir su negocio y cumplir con los pedidos que sus clientes le han solicitado. El sueño del señor Adolfo es ver crecer su negocio y de esta manera sus ingresos y así mejorar la calidad de vida de su madre y hermanos.
Adolfo is 46 years old and is an enterprising man. In an empirical way and without any experience he sought to improve his quality of life. With much effort and discipline he built a small apartment in his family home so that he could become independent and in that space started his own barbershop. In his barbershop he also sells merchandise such as lotions and clothing.
Adolfo needs to purchase merchandise to supply his business and meet the orders that he has gotten from customers. Adolfo's dream is to see his business grow as well as his income and thus improve the quality of life for his mother and siblings.
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.