Update on Juan OrlandoJuan is a person who has always described himself as being very hard working and always wants to offer his family a better quality of life. Juan has spent much of his life selling pulses, fruit and vegetables because his father worked in this sector and taught him the ropes from an early age. Juan's point of sale in on the pavement of his house given that he doesn't have enough money to be located in a store or turn his home into a shop to sell his fruit and vegetables.
The main difficulty which Juan faces is that his wife is constantly having treatment: she suffers from a mental illness, representing a large chunk of the household spending, which is why Juan works hard every day in his business with the hope of helping her get ahead.
With the aim of stocking up his business, Juan seeks a loan which will give him the possibility of purchasing fruit and vegetables so that he can offer a greater variety of products to his customers.
Juan hopes that in this way his customers will find more of their needs are met by his business, and in that way his sales will increase considerably. Moreover, Juan hopes that with a larger income, his family can enjoy a better quality of life. In the short term, Juan dreams of setting up his business in his home, adapting it as necessary to set up his fruit and vegetable stall, and in the future, he dreams of having a large fruit and vegetable shop and a large butcher's shop with which he could offer his family a better quality of life and better opportunities to progress.
Juan espera que de esta manera sus clientes encuentren en su negocio mayores necesidades satisfechas, y de esta manera sus ventas aumenten considerablemente. Además, Juan espera que con mayores ingresos su familia pueda gozar de una mejor calidad de vida. Juan sueña en el corto tiempo ubicarse dentro de su vivienda adecuándola lo necesarios para ubicar su legumbrería, y en un futuro sueña con tener una gran legumbrería y una gran carnicería con las que le pueda ofrecer a su familia una mejor calidad de vida y mayores oportunidades de progreso.
Previous Loan DetailsJuan Orlando has sold fruit for many years. Juan learned this business from his father who supported their whole family this way. Juan Orlando has his business in front of his house and he needs a loan so he can expand it. He will buy legumes and a variety of products to diversify what he sell... More from Juan Orlando's previous loan »
Important InformationThis 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid