John is a businessman who has decided to set up his own business with the intention of generating his own income and contributing to his income of the home he shares with his parents.
He has spent a large part of his life growing flowers as his parents are in this line of work and they taught him all about it at a very early age. He previously worked on a flower farm where he learned a lot about how to develop the activity, allowing him to set up his business when he felt that his work was very poorly paid. It is for that reason that roughly one month ago John started growing his own flowers on part of his parents' farm, and he is working on it to make it successful. Given that he started growing his flowers with very little capital, John is looking for a loan that will give enable him to buy the materials to finish setting up his crop of flowers.
John hopes that in this way his crop will grow in the best possible way and that he can get a good price for his flowers in the market. John dreams of having a large flower farm whereby he can generate employment for many people in need and from which he can offer his parents a better quality of life and better opportunities for progress.
John es un emprendedor que ha decidido montar su propio negocio con el ánimo de generar sus propios ingresos y colaborar con los ingresos de su hogar donde convive con sus padres. John se ha dedicado gran parte de su vida al cultivo de flores, pues sus padres se dedican a esta actividad y se la enseñaron desde muy temprana edad a John. Anteriormente trabajaba en un cultivo de flores donde adquirió un gran conocimiento acerca de cómo desarrollar la actividad, lo que le permitió montar su negocio cuando sintió que su empleo era muy mal remunerado. Es por esto que hace cerca de 1 mes John inició su propio cultivo de flores en una parte de la finca de sus padres y allí ha venido trabajando en él para sacarlo adelante. Debido a que su cultivo lo inició con muy poco capital, John busca que un préstamo le brinde la posibilidad de acceder a la compra de materiales con los cuales terminar de montar su cultivo de flores.
John espera que de esta manera su cultivo pueda crecer de la mejor manera y sus flores las pueda vender a un buen precio en el mercado. John sueña con tener un gran cultivo de flores con el cual pueda generar empleo para muchas personas necesitadas y desde el cual le pueda ofrecer a sus padres una mejor calidad de vida y mayores oportunidades de progreso.
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.