50-year-old Iván Darío is the father of four children. His business is making and selling pizzas from home. Thanks to this business, he is able to make the income he needs to support his family. With the aim of improving his sales and increasing his production, Iván Darío needs to buy an oven and supplies such as flour and vegetables. This will allow him to achieve his goal. In the future, he dreams of enjoying financial stability and improving his wife and children's quality of life.
El señor Iván Darío a sus 50 años es padre de cuatro hijos, se dedica a la elaboración y venta de pizzas desde su casa. Gracias a esta actividad puede generar los ingresos necesarios para el sostenimiento de su familia. Con el ánimo de mejorar sus ventas e incrementar su producción, el señor Iván Darío necesita de la compra de un horno e insumos tales como harina y verduras que le permitan cumplir su meta. A futuro el señor Iván Darío sueña con tener estabilidad económica y mejorar la calidad de vida de su esposa e hijos.
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.