Jesus is married with two children; they are his motivation to work every day. Jesus used to sell fruits and vegetables with a trolley which he would steer through the streets of his municipality. However, he and his wife decided to open a general store two years ago. There, they sell all sorts of basic household food items. The main reason for the business change was Jesus' deteriorating health from selling on the street. Because they only had a small amount of capital to launch the business, it is not very well-stocked. For this reason, Jesus is hoping that a loan will provide him with the opportunity to buy more household food items so that he can offer a wider variety of products.
This way, his business will have a greater variety of household food products and therefore be more attractive to customers. Furthermore, with the accompanying increase in income Jesus will be able to offer his wife and two children a better quality of life and better economic opportunities.
Jesus se encuentra casado y tiene 2 hijos quienes son su motivación para trabajar diariamente. Anteriormente, Jesus vendía frutas y verduras en un carrito por las calles de su municipio, sin embargo, desde hace 2 años entre el y su esposa decidieron montar una tienda general donde ofrecen toda clase de productos de la canasta familiar. La principal razón para el cambio del negocio es el deterioro de la salud de Jesus vendiendo los productos en la calle. Debido al poco capital con el que fue montado el negocio, no se encuentra mucho surtido de productos en su tienda, es por esto que Jesus busca que un préstamo le brinde la oportunidad de acceder a la compra de productos de la canasta familiar y así ofrecer una mayor variedad de productos.
De esta manera su negocio podrá ofrecer una mayor variedad de productos y ser más atractivo para sus clientes. Además, con mayores ingresos Jesus podrá ofrecerle a su esposa y sus 2 hijos una mejor calidad de vida y mayores oportunidades económicas.
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.