Daniel has been selling men’s and women’s clothing for six years, to his neighbors and co-workers. He used to sell appliances to earn an extra income. Now he needs to buy an assortment of clothing to be able to fill his customers’ end of the year orders. His dream is to have his own store and dedicate all of his tome to it.
El joven Daniel se dedica a la venta de ropa para dama y caballero desde hace 6 meses a sus compañeros de trabajo y vecinos; anteriormente el joven Daniel se dedicaba a vender electrodomésticos para obtener ingresos adicionales. Hoy día, el joven Daniel requiere de la compra de surtido de ropa para poder cumplirles a sus clientes con los pedidos de fin de año. El sueño del joven Daniel es tener su propio almacén y dedicarse tiempo completo a este.
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.