Factor Emilio is someone who has always focused on providing his family with a good quality of life. It is for this reason that he strives on a daily basis with his work to earn sufficient income that will allow him to provide his family with everything they need. Factor Emilio is married and the father of four children, whom he has always wanted to provide with a good education.
Owing to the few employment opportunities that presented themselves, Factor Emilio decided to set up a general store approximately ten years ago, where he offers all types of everyday products for the family for sale. At first, setting up the store was a huge challenge, as Factor Emilio didn't have sufficient capital for it. However, his desire to work allowed him bit by bit to increase the variety of products that he offers for sale.
Factor Emilio has the dream of being able to have a supermarket, so every chance that his store allows, he increases the variety of products that he offers for sale and undertakes improvements to his store location to achieve his dream.
On this occasion, Factor Emilio is looking for a loan that will provide him with the possibility of purchasing everyday products to increase the variety of products that he offers for sale to his customers.
Factor Emilio hopes that with the loan, his store will be able to provide more variety, and each time he gets closer to accomplishing his dream of having a supermarket. In addition, Factor Emilio hopes that with the extra income, he will be able to provide his family with better opportunities to progress in life, and he will be able to create employment in his store for those who most need it.
Factor Emilio es una persona que siempre se ha preocupado por ofrecerle a su familia una buena calidad de vida, es por esto que se esfuerza diariamente en su trabajo para generar ingresos suficientes que le permitan ofrecerle a su familia todo lo que necesitan. Factor Emilio se encuentra casado y es padre de 4 hijos, a quienes siempre les ha querido ofrecer una buena educación. Factor Emilio, debido a las pocas oportunidades de empleo que se le presentan, decidió montar desde hace aproximadamente 10 años una tienda general donde ofrece todo tipo de productos de la canasta familiar. Al principio montar la tienda fue un gran reto, pues Factor Emilio no contaba con el capital suficiente para esto, sin embargo, sus ganas de trabajar le permitieron poco a poco ir aumentando la variedad de productos que ofrece. Factor Emilio tiene el sueño de poder llegar a tener un supermercado, por lo que cada vez que su tienda se lo permite le aumenta la variedad de productos que ofrece y le realiza mejoras locativas para cumplir este sueño. En esta oportunidad Factor Emilio busca que un préstamo le brinde la posibilidad de acceder a la compra de productos de la canasta familiar para aumentar la variedad de productos que ofrece a sus clientes.
Factor Emilio espera que con el préstamo su tienda pueda ofrecer mayor variedad y cada vez pueda estar más cerca de cumplir su sueño de tener un supermercado. Además, Factor Emilio espera que con ingresos extras pueda ofrecerle a su familia mayores oportunidades de progresar y pueda generar empleo en su tienda para las personas más necesitadas.
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.