For approximately 20 years Gustavo has been selling snacks and candy from his street cart. Before that he was a welder but an eye disease meant that he had to give up that work. Thanks to his current job he can earn enough money to support his household.
Gustavo has loyal customers largely because of the good service he provides and for that reason his business is becoming more well known. There was a time when he had to take out a loan, but his business was failing leaving him with no profits to take home. Now that he has been able to terminate that prohibitively expensive loan, he wishes to increase the number of products to offer his customers. He is seeking a loan which will allow him to buy candy and snacks to better stock his cart with a wider variety of items.
Gustavo hopes to be able to make his business successful once again as he has been very poor since that very difficult time. He hopes to see sales increase and allow him to improve his quality of life and have a stable income.
Gustavo, desde hace aproximadamente 20 años se dedica a la venta de snack y confitería en una carrito en la calle. Anteriormente se dedicaba a la soldadura, pero una enfermedad de la vista hizo que tuviera que dejar este trabajo aparte. Gracias a esta actividad puede garantizar los ingresos necesarios para el sostenimiento de su hogar. Gustavo tiene muy buenos clientes, gran parte gracias al buen servicio que ofrece, y por esto su negocio es cada vez más reconocido. Tuvo un tiempo en el que se vio en la obligación de hacer un préstamo gota a gota, y su negocio se iba cayendo cada vez más debido a que no le quedaba ninguna ganancia. Ahora, que ya pudo terminar de pagar este préstamo tan inasequible, quiere aumentar la cantidad de productos que ofrece a sus clientes. Es por esto que busca un préstamo que le brinde la posibilidad de acceder a la compra de productos de confitería y snack que le permitan surtir su negocio y volver a ofrecer una mayor variedad de productos.
Gustavo espera poder revivir su negocio, ya que ha quedado muy pobre luego de su tiempo tan difícil, por lo que espera que su negocio aumente sus ventas y pueda así mejorar su calidad de vida y tener una estabilidad económica.
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.