Rubiel, 53, has been selling food for the last ten years having learned from a family member. Rubiel’s business has been well received and attracts a good clientele thanks to the quality of the food and the good service he provides.
He seeks to increase sales to improve his quality of life so needs to buy ingredients to be prepared for the end of year season when sales tend to increase considerably.
Rubiel’s dream is that his food sales increase until becoming a great restaurant so that he can generate jobs and improve the quality of life of other people and have economic security for the rest of his life.
El señor Rubiel a sus 53 años, se dedica a la venta de comidas desde hace diez años, cuando lo aprendió por parte de un familiar. El negocio del señor Rubiel ha tenido muy buen reconocimiento, pues atrae gran clientela gracias a la calidad de sus alimentos y el buen servicio que ofrece. Busca poder aumentar sus ventas para mejorar su calidad de vida, por lo que requiere de la compra de insumos para estar preparado para la temporada de fin de año donde las ventas aumentan considerablemente. El sueño del señor Rubiel es que su venta de comidas crezca hasta convertirse en un gran restaurante y así poder generar empleo, mejorarle la calidad de vida a las demás personas y poder tener una estabilidad económica en el resto de su 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.